Former professional footballer Paul Elliott said he knows 12 top players who are gay.
Speaking at the launch of the new FA backed Kick It Out - One Community, One Game campaign, the former Chelsea, Charlton and Celtic player said gay footballers are reluctant to come out because they fear negative reactions.
Paul, who know advises the Equality and Human Rights Commission, was speaking at 'Homophobia ā Football's Final Taboo', a forum organised by the Kick It Out campaign and hosted by the Football Association at its Soho Square headquarters last night.
Gay human rights campaigner Peter Tatchell, who was also speaking, called on the Football Association to "show leadership" and "back up its words with action, to give homophobia the boot."
He outlined a four-point plan of action that he wants the Football Association to adopt.
"I would like to see the FA to organise a dozen premier league straight players to condemn homophobia in a MTV-style video. Straight voices are likely to have the strongest impact on homophobic fans," he said.
"To challenge and diminish prejudice, this video could be distributed to football clubs, schools and youth clubs, and it could be played on stadium screens before matches and at half-time.
"The FA and individual clubs should have snappy, visual anti-homophobia messages on tickets, match programmes and billboards near stadiums."
"Kick It out and the FA could privately sound out several gay and bisexual premier league players about a collective coming out. If half a dozen top footballers came out in a joint statement, there would be safety in numbers. No individual player would be vulnerable to isolation and victimisation," he added.
"The FA, as the governing body and with the most resources, needs to take the lead on executing this four-point plan, but also involve Kick It Out, the Professional Footballers' Association and others.
"Bigotry has no legitimate place in any sport. Homophobia is no more acceptable than racism. We want all prejudice kicked off the pitch," Tatchell said.
As well as Mr Elliott and Mr Tatchell, speakers at last night's event included Lucy Faulkner from the Football Association, Barney Efthimiou of the Gay Football Supporters Network, and Jason Bartholomew Hall from the Justin Fashanu Campaign.
It was chaired by BBC sports reporter and commentator, Bob Ballard.
The issue of homophobia in football has been bought to head by the recent anti-gay abuse directed against Portsmouth's star player and England International, Sol Campbell.
The wave of homophobic chants by Spurs' fans at the Tottenham - Portsmouth match at Fratton Park on 28 September included:
"Sol, Sol, wherever you may be/You're on the verge of lunacy/And we don't give a f**k if you're hanging from a tree/You Judas c**t with HIV."
"He's big, he's black. He takes it up his crack. Sol Campbell, Sol Campbell."
Kick It Out, which has long campaigned against racism in football, has broadened its remit to become football's equality and inclusion campaign.
It is spearheading the new anti-homophobia initiative under the theme of One Game, One Community.
"We've been campaigning to rid our game of discrimination," said Kick It Out's Director, Piara Powar.
"We've made significant headway; black players are everywhere and ethnic minority communities are getting involved, whether they are on the pitch or in the stands. However, there are still no openly gay players and casual abuse of many players has homophobic overtones."
The campaign sees professional football link up with schools, universities, community and youth centres, for a nationwide stand against discrimination and for diversity. Over 1000 events and activities are scheduled to take place.
"Gay players, like black players, should never be expected to put up with bigoted taunts, insults and threats. We want football to offer a safe, welcoming atmosphere for players and fans of all races and sexualities," Tatchell said.