The Football League chairman, hopefully including Hereford United's David Keyte, will hold their AGM in Cyprus next June and if Reading chairman Sir John Madejski has his way a salary cap for all clubs will be introduced.
“I have been here 20 years and all I have seen is the inextricable rise in players’ wages,” he told the Telegraph.
“I always thought the bubble would burst and common sense would prevail. It may just happen now.
“Anything that reduces wages is to be applauded. On a league level the owners are realising, out of necessity, that something has to be achieved. If we don’t, we know what will happen. We have seen the warning signs. A lot of clubs are on the brink, a lot will disappear.
“It is vital that we tackle this problem and we are on the cusp of sorting it out. Football has to live within the confines of what it has. It cannot keep living beyond its means.”
Gregg Clarke of the Football League agrees.
“Football League clubs carry about one third of a billion pounds in debt but make no profit and have to service that with no positive cash flow," he said.
“If we were a commercial organisation we would be out of business. We are heading for the precipice and we will get there quicker than people think.”
Reading recently bought striker Mathieu Manset from Hereford where he was reputed to be on £400 to £500 per week.
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Next Game: Away At Buxton On Saturday 12th October at 3.00pm