This point was put to a legal eagle a few years ago, & the summary came back as follows:
You & I can form an invitation only Fast & Furious Speedster Club, without limits. The UK road speed limit is 30mph, & as long as none of the club members are caught speeding, or are reported for speeding, we're cool.
However, the moment someone has concrete evidence of law breaking going on at the speed club & reports it, the authorities HAVE to act. Where FFP is concerned, there is already a challenge creaking its way through the EU Court Process.
I honestly believe if we start spending the promised £30m on an army of lawyers to challenge FFP, it'll be dead in the water before too long. City just didn't want it to be us who did the deed. As it stands right now, we have absolutely fuck all to lose, & that is the most dangerous kind of foe you could wish to happen across.
This also reminds me of those mens only clubs which were successfully challenged by gender equality groups. Their clubs had their rules for decades, the law said different when it was challenged..... As UEFA/G14 will soon find out, the law is the law.