Bolton Wanderers chairman Phil Gartside fears foreign owners could dictate the future of the Premier League.
Chelsea, Manchester United, Liverpool, Aston Villa, Manchester City, Fulham, Portsmouth, Sunderland and West Ham are all owned by overseas investors.
Gartside fears this could lead to a dangerous shift of power in terms of how the game is run.
Gartside told the Daily Mail: 'The trouble is that the more foreign owners you get, the greater the danger of the balance of power changing.
'Football, as it has been regulated for years, could be in danger. If the foreign clubs gain a majority and decide to get together, they could start to dictate how the league is run.
'Here at Bolton we are still classed as a club that is owned by its roots, by people who still have a vested interest in making Bolton successful and not purely for financial gains.
'That's the way we'd like to stay but, in reality, it's a difficult balance to achieve.
'We are not blind to exploring investment in the club but we are also mindful of the future ownership and ensuring it remains in the hands of people who are interested in the well-being of Bolton.'