IF you want a more equal and competitive league, then the problem isn't Blackburn Chelsea Leicester and Manchester City it is the formation of the Premier League.
The football Association league had a policy of the richer clubs subsidising the poorer clubs in order to level the playing field and enhance the production of skilful English football players, (for international playing). The Premier League sold the Premier League to the big clubs on the basis that those with the most success would get the biggest revenues. Those with the most success inevitably will be those that spend the most on players. Of course there will be exceptions to the rule, but generally this is what will happen, and has happened with the Premier League.
I'm a Manchester City fan, who saw all this predicted in 1991 in the Socialist Worker newspaper. That the richest club was going to dominate the league, and so I knew that was going to be united.
Now people are complaining "yes, but Manchester City are absolutely dominating the league and that is ruining it." Well, the only way we can see whether FFP is a solution to that problem is by looking at their effect upon history. So if you remove the titles from all those potentially affected by FFP since 1992 the result is, LFC 4, AFC 7, MUFC 19 PL titles. Proof>
https://www.pinterest.co.uk/pin/877216833655030762 on one occasion Manchester United would have won the Premier league 7 times on the trot in this scenario.
Manchester United winning 19 titles is not competitive. Manchester United winning the league 7 times on the trot is not competitive. No one besides those 3 clubs winning a title is not competitive.
The big spenders like Blackburn Chelsea Manchester City and Leicester should be congratulated for making The Premier League more competitive, and so the best product on the global stage of soccer.
Now if you really care about football AS A SPORT, and not just English football but European football as well, then the solution is get rid of the Premier League. We all know that the Premier League spending power is destroying all the European clubs. Unless you get rid of the Premier league and reintroduce the methods the Football Association used English football will not be a sport, it is a competition to see who can make the most money. Thatcherism. The only other alternative for European clubs to compete with the Premier league is the European Super League