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The League Managers' Association claim there was a "complete lack of substance and evidence" in the Panorama investigation into transfer bungs.

Three agents in the programme accused Bolton boss Sam Allardyce of being willing to accept illegal payments over transfers, while his son Craig was accused of accepting money for his part in two deals, even though the sums were never registered with the Football Association. A statement from the LMA read: "As the organisation which represents professional football managers in this country, we were very disappointed with the BBC Panorama programme.

"There was a complete lack of substance and evidence to the pre-programme assertions and claims which were being made. If the BBC has any hard evidence then it should hand that evidence to the Football Association and Lord Stevens.

"All our members are fully aware of their responsibilities and of the need to act professionally and with the utmost integrity at all times.

"There has been considerable debate about the transparency of the football transfer system and the role of agents both in this country and abroad.

"The LMA supports any full and thorough investigation into these issues and welcomes the publication of the Lord Stevens report in the near future.

"If there is any evidence of financial misconduct within football then let it be brought out into the open and the guilty parties treated accordingly."

Meanwhile the FA are to probe Chelsea and Liverpool regarding allegations that they breached regulations in trying to tempt a young player from Middlesbrough.

The BBC Panorama programme showed Nathan Porritt, then 15, being touted to the clubs by agent Peter Harrison.

The Premier League also want some of Panorama's more serious allegations to be passed on to Lord Stevens' bung inquiry, and the evidence about illegal approaches for players to be given to themselves and the FA.

A Premier League spokesman said: "There are allegations concerning other potential breaches of industry rules in the programme that fall outside the terms of reference of Lord Stevens' inquiry.

"Again we request the BBC pass on their evidence in order that the FA and ourselves can examine all aspects of these allegations in order to determine the most appropriate course of action that each body should take."

However, Chelsea will not face any possible points deduction even if Panorama's claims are substantiated.

The Blues were given a suspended three-point deduction by the Premier League following the Ashley Cole 'tapping up' case.

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