The UEFA rules will only apply for clubs in UEFA competitions. In other words you can do what you want if you're not in European competition.
I believe that the result of not abiding by FFP rules will simply preclude you from competing in the CL or EL. So in theory a billionnaire could buy Port Vale, make them champions year after year just so long as they're happy to forgo European football.
The recent letter was requesting that these rules also apply for teams only involved in domestic competition.
I think that's right.
That makes more sense lenny thanks but I am still confused as to why Chelsea and City are hoping to to extend the PL rules as they ARE interested in the CL.
but it wouldn't be a viable comp unless all or most of the big teams joined it. I'm guessing but the German teams probably would not, Real probably would but Barca probably wouldn't. It could split European football asunder!