It's needed now because the so called "big clubs" have been completely taken over. The powers that be are trying to put a stop to it.
It's funny reading the likes of "All football clubs and fans want is a level playing field"...
Eh, There's never been a level playing field, The Rags have spent more than anybody else in the Premier League (still doing it to this day), They were successful years ago because they bought up every top player whilst the rest of the league hadn't a pot to piss in...
Real Madrid with all the Galacticos, No moaning about that either, Apparently it was great that they were spending millions buying all the top players!
The so called "elite" are throwing their toys out of the pram now because little City are winning everything, They succeeded in stopping Newcastle spending money because they are afraid of there lives that they'll also overtake them all (which they would have).
Although it's OK for your stadium to be falling apart, Being £900m in debt, Yet still spend £80m on 32 year olds...That's fine.