I know that the FA has the ability to charge anybody involved with football for bringing the game into disrepute etc., but I have no idea whether it, or the PL, or the EFL, or Uncle Tom Cobbley have any additional powers?
Perhaps its time for a proper regulatory authority structure such as you have in the legal sector? Like others have said, its the fans that you have to feel for as they're the one's that will ultimately suffer as they see their beloved club plummet, perhaps out of existence.
If it's not already there, I'd like to see a requirement that each club appoints compliance officers that are legally responsible and accountable to a football regulator, which has the power to investigate and levy fines and other punishments directly on them as well as the club. Give them protected whistle-blower status, require them to report certain pieces of information to the regulator on (say) a quarterly basis, subject them/the club to periodic spot checks and you'd pretty soon dramatically reduce all of this mismanagement malarkey.
The other thing that needs to be done - which for me is a real no-brainer - is prevent owners sticking in debt capital rather than equity into their clubs. How they should be allowed to have first dibs of the cash from a failing concern as a priority creditor is beyond me. If they want the cash out, then there are robust rules in company law concerning distributable reserves before dividends can be paid, or capital bought back.
Clubs should get smarter on player contracts too, supported by the governing bodies etc. Why a player's wages should remain unreduced on a club's relegation is ludicrous. Provision should be written into every contract for such things, with the quid pro quo being something like every player's remaining term on their contract reducing to 12 months (or something).
And whilst we're at it (I'm on a roll), I'd stop clubs loaning players to clubs in the same division as this adversely impacts proper competition, i.e. these clauses that prevent players playing against their parent clubs. I'd also limit the number of squad players for each club for a season to (something like) 30 players. I'd also cascade that down to their reserves and development squads too. Why should the rich PL clubs hoover up all the talent and have the poor relations bring them on for them?
I'm still going... if a player over the age of (say) 23 has made fewer than (say) 10 starts over two seasons (injuries aside) then their contracts should be voided and they should be allowed to leave on a free.
All largely ill-thought out and in need of work, but this kinda bollocks could revolutionise footie.
Oh, can we get rid of that spitting Scouse twat, Carragher too?