Football Clubs (Governance)

I congratulate my fellow Liverpool supporter on securing this debate. However, I do not agree that Governments should intervene in this matter. The whole issue has arisen, particularly for the supporters, because of the financial engineering that has been going on. Does the hon. Gentleman not agree that instead of trying to regulate in a particular way, we should use tax incentives to encourage mutuals, such as the Arsenal share scheme? Instead of debt-financed football clubs, which rely on tax incentives, we should have a different approach that encourages supporters' ownership of the clubs.