The LMA is extremely concerned by the current situation

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"The LMA is extremely concerned by the current situation of allegations made against a number of managers. We take the allegations very seriously as they are obviously damaging to the game," the LMA said in a statement.

"We are in regular communication with The FA to establish the facts relating to those allegations.

"We know The FA has requested full disclosure, from the Telegraph, of all the relevant information it has and we are working with The FA in dealing with the allegations, following the correct processes and procedures."

Sam Allardyce is waiting to hear if we will face further punishment from the FA after leaving his role as England manager
The LMA said it had no objection to the FA sacking England manager Sam Allardyce after the Telegraph reported that he offered advice to a bogus group of businessmen on how to get around rules on player transfers.

"With regard to Sam Allardyce's departure from his role at The FA, the LMA was in regular communication with Sam and The FA throughout the process. We fully respect the decision that they have mutually agreed," the LMA said.  

A statement from Association of Football Agents chairman Mike Miller released on Wednesday afternoon called for new regulation of agents to help combat the "mani[CENSORED]tion and abuse" of the system as it exists today.