A British Parliamentary committee has called for an overhaul of how English soccer is run amid rising levels of debt and financial instability.

The Culture, Media and Sport Committee's report into soccer governance outlines concern over clubs ''making losses and operating on the edge of viability.''

Due to escalating player wages, the legislators say ''debt remains a serious problem throughout the football pyramid.''

The report says the Premier League's financial controls are not ''sufficient to curb English football's excesses'' and recommends that the Football Association is given more power to tackle these problems.

But the committee also urged the FA to get its ''own house in order'' by removing ''vested interests'' from its board.