Really? I’ve seen Alan Nixon argue this. But surely FFP helps protect fine old clubs from the possibility of rogue owners crushing them. Look at Bolton. I’m not saying FFP could prevent that, but it might help. While you have a wealthy owner able and willing to pump money in, you’re fine. But how would you feel if an ambitious owner overspent, failed to get you promoted and walked away, leaving the club in liquidation?
You can always assume that a new rich owner will pick up the tab, but the Bolton mess shows that a tipping point can be reached where the club is no longer worth the price needed to keep it going.