Championship clubs will only be allowed to spend what they earn from the 2012-13 season, while sides in League One and Two will not be permitted to spend more than 55% of their turnover on player wages. The Npower Championship has seen a number of clubs struggle with the financial fall-out of relegation from the Barclays Premier League in recent years.
Clubs that breach the rules are likely to be handed a transfer ban as a first sanction, although the possibility of points deductions have not been ruled out. UEFA is in the process of bringing in its own Financial Fair Play regulations for the top flights of football across Europe.
“We are very happy to see that Football League clubs, under the umbrella of the Football Association, are again taking the initiative on good governance issues by introducing Financial Fair Play,” said Platini, according to Sky Sports.
“We are delighted that enlightened football bodies across the continent are trying to restore financial sanity to football on a national level, just as we are trying to do on a European level,” he added.
A report into football finance, released by the Sports Business Group at Deloitte last week, found that operating losses in the Championship during the 2009-10 season increased for the sixth straight year to a record £133 million.
