FIFA Financial Fair Play: Will it promote convergence?

FIFA’s Financial Fair Play Regulations will, in effect, combat “income inequality” among football (soccer) teams in Europe. Basically, in order to compete in leagues in Europe such as the UEFA Champions League, teams must fulfill a break even requirement – that is, they cannot spend more money in transfers and/or wages than they generate over a certain period. This will prevent football clubs like Manchester City (owned by Mansour bin Zayed bin Sultan Al Nahyan, whose riches mainly come from the oil industry) from using Nahyan’s income from oil to outbid anyone because their revenues come from a source outside football (or in some cases in the past, clubs would take out loans that they have no means to pay). Theoretically, this will give clubs a level playing field because they will only be able to spend as much as they make in football. But, almost ironicallt, the clubs who earn the most football income are still the most popular clubs who have the most famous players and who play in the most advanced stadiums. So I believe the Financial Fair Play Regulations will curb SOME spending, but it won’t completely promote convergence, because the rich clubs will keep on being rich, while the minnows will find it hard to earn as much in terms of football revenue.