Richard Masters, CEO of the Premier League, said that they wouldn't be resistant to change.
Richard Masters, the league's chief executive, told the BBC that the league supports the principle of an independent regulator, but warned of "unintended consequences".
A new body was backed by the government.
"Pushing back would be wrong, as it's a key part of the recommendation, government-backed, and it's a part of the plan," said Masters in his first public comments on the plan.
The league objected to the independent regulator.
It has shifted position.
Masters told the sports editor that they are open to an independent regulator and want to discuss details with the government.
We have to be careful not to damage the league. There are some pretty radical proposals that need to be thought about.
Unintended consequences are what we need to be careful of.
It is a change in the way football is governed and we need to make sure we preserve some of the good things, the great successes and strengths of English football, which are driven off external investment and the ability of clubs to compete on the pitch.
All of that needs to be preserved by these reforms.
The chair of a fan-led review into English football said the game needs an independent regulator to stop it from "lurching from crisis to crisis".
The report made 47 recommendations, including clubs having a shadow board of fans so they are properly consulted on key decisions and that supporters hold a 'golden share' to protect their clubs' heritage.
The devil is in the details in the review. We shouldn't resist giving fans a bigger say in heritage issues that are important to them.
Shadow boards are what some of our clubs have already adopted.
Last week, they changed their crest, they did so in consultation with their supporters. I think those sorts of things can work if they are described in the final policies.
Masters said that the recommendation of a transfer levy to raise funds for the rest of the game was too radical.
There is a levy of 4% on domestic transfers and 5% on international transfers. Masters said that 10% on top of that was too radical.
Will it have an impact on the ability of the Championship to find the best talent and put on the best show?
The Football League's request for 25% of all pooled broadcast revenue would be a disaster, Masters said.
He said that value has to be retained where it is generated.
The best players, talent and managers need to be attracted to the premier league.
