Anto is joined once again with solicitor Daniel Geey of Field Fisher Waterhouse of London who serves as an associate in the Competition and EU Regulatory Law Group to take a look at some new financial regulations that are facing The Football League that are loosely based on the break even requirements of UEFA Financial Fair Play, but also has some elements of a North American soft salary cap in its application. This includes how these rules will be applied, the transitionary period where losses will be allowed until these clubs can get across the threshold and what some of the key issues may be while implementing these important steps. We take a look at the rules themselves, the process for implementation and seriously take a look at the League One and League Two standards which will need to operate in concert with The Championship. In order to meet the objectives of Financial Fair Play, Championship clubs have agreed to work towards the introduction of new regulations to be developed and approved by the beginning of the 2012-13 season, League One clubs have agreed to implement the Salary Cost Management Protocol (SCMP) - which limits spending on player wages to a proportion of total turnover - from 2011/12 and League Two clubs, having successfully operated the SCMP at a 60 percent threshold since 2003, will reduce it to 55 percent next season, effectively introducing a single-entity cap system to European football. We examine the dynamics of clubs moving between divisions and how there are still some issues that still need further definition given that the Premier League will rely on the strict UEFA regulatory framework while also providing huge motivation for ambitious clubs who might want to still take extra risks to obtain the windfall of EPL TV money and the parachute payments which would vastly exceed the regulatory penalties. Then we turn to the matter of clubs landing into this regulated environment from the Premier League and what some of the operational and financial obstacles will be in theoretical application. Daniel always breaks down these regulations and the framework in very practical terms and helps break down the complexity with expert ease.

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