Or they’ll refinance the debt again and again as they struggle to service it, after receiving tax forgiveness and favourable capital valuations from municipal authorities, before selling several parcels of land for said over-valuations and purchasing them back for a fraction of the sell price.
Your and my scenarios are further illustrations of the point I was making. Barca will be carried even despite their poor management, as they have been numerous times in the past, and FFP (current state) will have very little issue with it.
Other, smaller clubs have no hope of ever catching up (especially in Spain), which is by design.
Exactly my point, mate. And there is already municipal funding, in various forms — they’ll be supported because they are “too big to fail” and the other clubs slowly folding even after many years of sustainable growth and competent management will be told to **** off when they look for assistance. Then some will attempt the ‘finance via cheap debt’ strategy, only to fail some time later, anyway, at which point the club can be purchased for a fraction of actual value and the new owners can start again.
That is the world FFP has really further enabled, rather than reformed.