A Championship club owner offered a fictitious investment firm a way around FA and Fifa rules on transfers, The Daily Telegraph can disclose.

Massimo Cellino, the owner of Leeds United, was filmed suggesting the firm should become a shareholder in his club, in return for which it would receive a portion of his players’ sell-on fees.

The disclosure comes after Sam Allardyce lost his job as England manager after suggesting a separate way around the same rules, also in meetings with undercover reporters.

FA and Fifa rules ban third-party companies from acquiring the economic rights to players, or having a right to a portion of the fees when they are sold on by clubs. The practice has been banned in England for eight years after the Premier League compared it to “indentured slavery”.