The League Manager's Association says it is "extremely concerned" by allegations that eight Premier League managers received bribes to help facilitate player transfers.
A report in The Daily Telegraph alleged that eight current and former managers of clubs in England's top flight had taken 'bung' payments from agents who were keen to seal transfers for their players.
It is claimed that video footage included within the report is of player agents "boasting about how many managers they had paid" to undercover reporters.
The LMA says it is in regular contact with the Football Association (FA) in order to "establish the facts" surrounding the newspaper's claims.
A statement read: "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.
"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."
The report follows just 24 hours after the newspaper published damning footage claiming to show Sam Allardyce offering guidance on how to circumvent FA transfer regulations.
Allardyce is also alleged to have criticised Roy Hodgson - his predecessor as England manager - as well as the FA for their rebuilding of Wembley, and is claimed to have discussed a £400,000 deal to represent a Far East firm.
The 61-year-old left his role by mutual consent on Tuesday following talks with FA executives, and the LMA has backed the decision.
"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," it said.
England Under-21 boss Gareth Southgate has been placed in temporary charge of the senior side.