The Premier League is weighing up a formal ban on debt-fuelled club takeovers as football gears up for an industry overhaul.

As first reported by Mark Kleinman for Sky News, Premier League execs are in discussions with the top twenty teams about the change in ownership rules and leveraged buyouts.

The consultation process is expected to end imminently and any changes will be voted for in September.

It is understood that a ban on leveraged buyouts would not apply retrospectively.

The heavy role of private equity firms in the league is unlikely to change because of a lack of appetite from football clubs, an insider told Sky News.

The news comes as the £2.5bn sale of Chelsea FC continues to be spearheaded by part-owner of the LA Dodgers Todd Boehly, who is financing the deal entirely with equity.