Is it working or not, i think the general opinion is it doesn't punish the top clubs, but i think it is having a massive impact on them, Man City only registered 20 players of the 25 they could have, but if you are spending 100m on Grealish, maybe quality is not enough without quantity, similarly Liverpool only registered 22, 11 clubs including ourselves didn't register 25 players, so the clubs that didn't register 25, and are in European competitions can hardly complain about injuries or tiredness, like Man City seem to be.

“That’s a joke son, I say, that’s a joke.” “Nice boy, but he’s sharp as a throw pillow.” “He’s so dumb he thinks a Mexican border pays rent” “ “Son… I say, son, some people are so narrow minded they can look through a keyhole with both eyes.”__ Forhorn Leghorn

Showing your age there Badger! Jack Warner?

I don't think FFP has much to do with the squad sizes - if clubs like Man City wanted to fill those 25 slots, they still could under FFP, but I think they see more benefit in leaving room for academy players rather than having 25 senior players - Bobb and Rico Lewis, off the top of my head, wouldn't need registering but are very much part of the City squad.

I don't think FFP works well to answer the OP - I think it was well-intentioned, and actually view the punishments on Forest and Everton as positives in terms of it actually achieving something, but until they scalp one of the big boys, it can't claim to be fair.

Chelsea found a loop hole and were able to buy £1bn of players in little over 12m, City are just kicking the can down the road with a lengthy legal battle which they know they can afford and Newcastle have hugely inflated their revenue with all these shell 'sponsors' from the Middle-East (something City have also been doing for years).

"And Fred was sent down for 7 years, silly boy"

One more point

I agree. PL really didn’t want to enforce penalties but appear to have had their hands forced by the introduction of the Independent regulator. IMO they introduced the regulations without ever thinking they would need to use them, hence the somewhat arbitrary punishments

It has certainly stopped Newcastle spending in the last window, and lack of a Haaland stand in, Chelsea have to sell 120m in the summer, and players they haven't bought EG, James, Gallagher etc will be the ones with the highest value, i have no doubt that if they could both would have spent big last window

“That’s a joke son, I say, that’s a joke.” “Nice boy, but he’s sharp as a throw pillow.” “He’s so dumb he thinks a Mexican border pays rent” “ “Son… I say, son, some people are so narrow minded they can look through a keyhole with both eyes.”__ Forhorn Leghorn

Rumour I heard is from next year its fines only.
Yup can see that stopping the big boys

Typical football authorities' logic. You've spent more money than you should, or can afford, so we're going to take some more from you.
Any owners prepared to invest hundreds of millions in transfers and wages won't be put off by fines.

But they have had to slow down, and it will continue to disrupt them, Chelsea and Man City

“That’s a joke son, I say, that’s a joke.” “Nice boy, but he’s sharp as a throw pillow.” “He’s so dumb he thinks a Mexican border pays rent” “ “Son… I say, son, some people are so narrow minded they can look through a keyhole with both eyes.”__ Forhorn Leghorn

Maybe but presumably the big money boys would just come up with spurious cash injections, like City's advertising revenue from the owners' relations, to pay their way out of any problems.