I think FFP UEFA was just misrepresented. I mean old powers have seen it as an opportunity to put a stop to PSG, City rise. But is it fair? I don't think so. I did not bat an eye when we signed Rio and others. Back then, when you look at our revenue it was shitload of money, like a 100m right now, if not more. We spent quite a lot of money and way back in 90s if i remember correctly Keane was a record transfer back then. Cantona probably was not, but i think his overall package, fee plus wages was huge for early 90s. So i think it's kind of hypocritical to complain that Chelsea or City can spend big money.
Especially not for United, but for Bayern. Honestly these guys are well-known financial scavengers, they basically pillaged Bundesliga for years.
In my opinion the whole idea of FFP was not to cut PSG, City from owners money, that could be easily done with other set of rules. But the main idea was to structure stuff like ownership, revenues, to give clubs more financial stability. For example UEFA restricted loses, so these "new money" started rely not on loans or share buy-out from owners but on sponsorhips money from companies associated with owners. Sure it's basically the same money. But any financial guy will tell you that the second way is more secure, it's better for football as an industry, it's more revenue, more taxes, more stability. And UEFA has to think about stability for players and other staff.
Simply cutting PSG's money off would be restricting investment. And in a that way FFP has worked, the revenue is up, bottom loses are down, Real and Barcelona were heavily in dept around 2010, they are both fine now. Our dept did not come from football activity, so that's another story.
But right now these permutations are complete, the clubs sorted out their financial state, well most of them. And new set of rules should be discussed. Right now the problem is competitive balance. PL has it reasonably okay, but there are huge problems in other top leagues. I would actually take a page from USA sports, we can't have the draft system obviously, that's a dead end. But we can have a system that restricts transfers and while idea of a level ceiling for everybody, like a 100m is a nice one, i think the much better idea is to give a little bit more edge to teams who finish lower. So for example champions will get like a 85m limit, 2-4 teams 100m limit, 5-10 will get 120m and so on. Of course the exact numbers should be thought through better. But the idea is to give some edge to teams that finish lower, so that next year they can be better.