English soccer is at risk of more financial chaos unless money filters down from the Premier League more evenly to the lower tiers, according to a fan-led government review, which urged clubs to come up with a solution by year-end or face the issue being taken over by an independent regulator.

The report published late Wednesday by former U.K. Sports Minister Tracey Crouch found that despite the wealth in the Premier League, teams across the English game have fallen into administration 62 times since the top tier was founded in 1992. The sport is at a "crossroads,” she said.

Boris Johnson’s government commissioned the review of soccer’s structure and financing in the wake of the ultimately failed attempt by major European clubs, including six from the Premier League, to form a breakaway super league in April. The English teams thought they could make more money while staying in the Premier League, but backtracked after a fierce backlash from fans as well as Johnson and even Prince William.