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In football we trust?There is a growing concern amongst football supporters, government and the wider community about the increasing level of financial and operational difficulties facing many of today’s professional football clubs. The focus of much of this concern currently centers on the many of the clubs owners and where their interests really lie. Clubs that were once the cornerstones of local communities run with sporting success as the primary motivator are seemingly becoming the ‘playthings’ of wealthy individuals with no links to the community or the clubs history. This paper details a history of club ownership in the Premier League through to present day. It then examines current regulation in the football industry and focuses on the applicability of Section 172 of the Companies Act 2006. The paper concludes by detailing alternative forms of ownership as a possible solution to one of footballs most enduring corporate governance challenges.