The arrival of a football regulator has long been anticipated, with many hoping it would help restore balance to a game increasingly dominated by wealthy owners, from state-backed entities to oligarchs. These powerful figures have often leveraged their financial resources to exert influence over governing bodies, leaving traditional clubs and their communities feeling marginalized. With the recent introduction of the football governance bill, the prospect of regulation seems more tangible than ever. This development has reignited hope among those who believe in the need for oversight in a sport that has strayed far from its roots. However, as the specifics of the bill come to light, it’s crucial to recognize that the mere existence of a regulator does not guarantee compliance with regulations. The water industry serves as a cautionary example of this reality. The effectiveness of the regulator will ultimately hinge on the extent of its powers and its ability to enforce rules in practice, rather than just the written regulations themselves. The true test will be whether the regulator can assert its authority and ensure that the interests of clubs and their communities are prioritized over the financial clout of a select few.