B20
HEY EVERYONE I IGNORE SOMEONE LOOK AT ME
The argument of saving poorly managed clubs from bankruptcy sounds like a poor excuse to me as well. This is an issue that should police itself. How the hell is a threat from UEFA bigger than a threat from bankruptcy itself for the likes of Sporting (who may very well fail FFP as it stands). I'm sure as soon as soon as a few clubs started to shut down their neighbors would wise up. That cataclysmic scenario of everyone going bankrupt looks like stupid conjecture to me.
It's really not. The trend has been worsening and was simply not sustainable. Especially in Spain and Italy, this was becoming a problem.
The threat from UEFA is worse than the threat of bankrupcy because those clubs who do this generally do it for sporting reasons. Leeds would have had significantly less incentiveto spend what they did if they knew it would result in them not getting into Europe anyway.
The combination of sugar daddies and clubs spending beyond their means is self-reinforcing because it distorts the market for wage levels and tranfer fees.
The big problem with no FFP is that it discourages sane financial budgets.
And the fact is, it has already worked. Expenditure has lessened significantly all over Europe as a result of FFP.
For me, the problem with FFP is not so much what it does, but rather that it is only a first step. Situations such as Real and Barca's stranglehold on TV money, the loan system getting out of hand and so forth. There is plenty of things that, once you've embraced the notion of Fair Play beyond the pitch, should be regulated more strictly as well.