Fair Game claim that 58 percent of clubs across all four divisions are technically insolvent."
Niall Couper, chief executive of Fair Game, said: Our experts have looked at the data going back over 20 years and the picture is bleak. The football pyramid is crumbling before our very eyes.
"At every level it is falling apart and a continuation of the current system could see its total collapse. The gaps between the haves and have nots are growing and the only bodies that can currently reverse the trend are controlled by the 'haves.'
Legislation is the starting point to create a more sustainable future, but Part Six of the Bill on financial distribution needs to be completely re-written.
If the proposed football regulator is to achieve its No 1 objective of securing the financial sustainability of the game then it must take full control of football's financial flow. Leaving it in the hands of the current football authorities, as the data proves, is the road to ruin."