MANCHESTER, England (AP) — The English Premier League fears a new “banking-style” regulator could damage the competitiveness of the world’s most popular league.

League chief executive Richard Masters has also raised concerns that proposed government measures will impact the league’s value and deter investment into a competition that earns billions of pounds through the sale of broadcast rights across the globe.

The U.K. government plans to establish an independent football regulator who will be charged with ensuring the financial sustainability of clubs and leagues in England. It is proposed each club will require a licence to operate, with strengthened tests over who can own a team, and enhanced financial regulation.

“We worry above all that the model set out in the bill may affect the carefully constructed competitive balance that is at the heart of our existing competition, and therefore the appeal and value of the Premier League to fans and investors alike,” Masters wrote to the chair of the government’s select committee on sport.