In a case in which the principle on which FFP is based UEFA will almost certainly argue that FFP was introduced to create financial stability and they will produce a barrage of statistics which they claim show that the losses made by clubs across Europe have reduced massively. This they will argue means that the achievement of this objective justifies any restriction of competition. This case seems to me flawed on at least two grounds and we should not accept UEFA's justification of its actions.
Firstly, the claim that FFP is to reduce losses is not the case and UEFA was not concerned with financial stability. In fact it caved into intimidation by a group of clubs frightened of plans to tackle the problem of debt. Restrictions have been brought in on the spending of clubs instead and the irony is that those clubs most heavily in debt have been allowed to spend more that all others on players and other assets. This has brought no greater financial stability to these clubs because their debt levels have increased significantly and they have inflated the transfer market by paying very large sums of money for the best players, sums other clubs are not allowed to match. Manchester City missed out on at least one player because one of the most heavily indebted clubs in the world, Manchester United, agreed to a transfer fee Manchester City could not match because of FFP. This is not a justifiable restriction of competition but rather a protectionist series of measures for the benefit of a self proclaimed elite.
The second basis of a challenge specifically from City is that experience has shown that the financial stability of the club has never been under threat and that the club has never actually made losses. Sheikh Mansour has invested heavily in the club but he has also invested very, very well indeed. At no time has he loaded debt on to the club as have at least two near rivals, he has built up the club so that it is now at the heart of a multinational group worth some $5 billion compared to the $250 million or so for which he bought the club. City are more stable financially than they have ever been and the only world in which its financial stability is threatened is the fantasy world of a clique of clubs who took advantage of the circumstances of the late '80s and early '90s to increase their revenue and dominate football and for whom City are an inherently "small club". Even when only the revenue streams and restrictions laid down by UEFA are allowed City have not made a paper loss since 2013 and the owner bought shares in the club to increase its value a policy which has increased the performance of the team on the field to the extent it is now regarded as one of the best and most attractive in the world to watch. It has to be said that UEFA are actually arguing that City must be made more stable by being refused money from sponsors because they are too close, to "related" and so hey presto you're making a loss! In what bizarre universe is this the case! Manchester City are to be punished not because their financial stability is threatened but because they have used investment to grow, because too many, including La Liga know City are too stable and too competitive on the field.
City are a shining example to the rest of football and if a new owner in any sector of economic life had achieved what Sheikh Mansour has achieved at the club there would be no question of ludicrous bans from competition or very large fines. In any other sector of the economy his business would most certainly not be held to fall foul of financial regulations for building up his business and providing a product the public so clearly prizes. If the new owners of British steel were to transform the steel industry in the way Sheikh Mansour has transformed Manchester City the Queen's award for industry would rain down on them, honorary knighthoods would be awarded to the owners and executives would be invited to address august meetings on how the miracle had been achieved. FFP clearly is not what is needed in its present form.