The 'Telegraph' exposed Sam Allardyce who negotiated a £400,000 deal in order to help false businessmen "get around" transfer rules and was later relieved of his duties as England manager.
The newspaper then claimed that eight current or former Premier League managers had been involved in being bribed in the signing of players.
However, while none of the names recently mentioned to be involved in corruption are in the Premier League, they are certainly high-profile figures within English football.
Former Chelsea striker Hasselbaink - who scored 70 goals in 136 games for the Blues - asked for £55,000 to work with a sports company that proposed selling players to his club, Queens Park Rangers.
Cellino, owner of Leeds United allegedly offered to sell 20 per cent of the Yorkshire club in order to help the "businessmen" get around rules concerning third-party ownership.
The other name mentioned is Barnsley assistant manager Tommy Wright. Wright allegedly took a £5,000 bung to help agents place players at the Championship club.
QPR released a statement saying: "The club is aware of the allegations made against QPR manager Jimmy Floyd Hasselbaink in 'The Telegraph'.
"First and foremost, the club takes very seriously any alleged breach of the rules.
"With this in mind, the club can confirm that there will be a thorough internal investigation regarding this matter.
"However, we have every confidence in our manager and the robust systems and processes the club has in place."
Hasselbaink also released a statement on via the club's official website, denying any wrongdoing.
Meanwhile, Leeds United are yet to make a statement regarding the allegations regarding Cellino and Barnsley have suspended Tommy Wright and will investigate the allegations.