In the upcoming general election Labour have said they will made fan representation on boards a legal requirement.
The would introduce new laws that would guarantee football supporters at least two seats on the board and a minority stake in their club.
Exact details can be seen over at http://press.labour.org.uk/post/100193817909/labour-putting-fans-at-the-heart-of-footballs
The exact wording is
appoint and remove up to a quarter and not less than two of a football club’s board of directors;
purchase up to 10 per cent of the shares when a club changes ownership, if they so wish.