Fix FFP first, how is it fair PSG buy one player for a quarter billion from oil money and expect teams to compete with that?
What is a proper FFP?
To me spending 200 million on a player funded from uneven spread of TV monies is no better than it been funded from an external investment into a club. In the real world competitors not been allowed to seek investment to compete with an existing established dominant player is seen as anti competitive behaviour.
If we look at the regulation changes in the past decade in football, a lot of it is trying to keep the established elite entrenched in their positions, if the likes of Chelsea and Manchester City were blocked from investment we would still have the same problem, just with different clubs at the top of the pile. As an example the EPL likely would have been dominated by Arsenal and Manchester United in the years Chelsea, and Manchester City won it. So "less" winners.
This is the issue, because a truly fair FFP would be opposed by the elite clubs, a truly fair FFP would be the same fixed budget for each competitor, not based on revenue. A truly fair FFP would also block investment in players when the club has debt, as well as buying players using debt.
If a FFP is based on turnover and especially if then a few clubs enforce a stranglehold of money like they tried with the ESL, then you basically are setting up a system that's rigged.
With all this said it doesn't mean I agree with what's happening with clubs like Manchester City. I am just saying that what one person considers a fair FFP is considered unfair to another person. I am flabbergasted though that the current FFP ignores debt, and its basically allowed clubs to build up 100s of millions of debt (billions in Barcelona's case) without anyone batting an eyelid.