My main problem with FFP is that they claim it to be to stop clubs spending too much money and going bankrupt (like the Portsmouth example I gave) except that clearly isn't the case, fines would just make them go bankrupt quicker, the exact opposite of what they claim to be trying to do.

FFP exists solely for the purpose of keeping the big teams big and the small teams small.

UEFA themselves said it. From UEFA president Platini 'Fifty per cent of clubs are losing money and this is an increasing trend. We needed to stop this downward spiral. They have spent more than they have earned in the past and haven't paid their debts. We don't want to kill or hurt the clubs; on the contrary, we want to help them in the market'

You are right about why it exists, but UEFA deny that and say something completely different.

Man City post a loss of £23m, £16m of which was from the fine for making a loss...

Yep, punish the teams that lose money by making them lose even more money... financial 'fair play' being as terrible an idea as ever. *sarcastic applause*

Just imagine if this rule was around when Portsmouth were spending money. They would have been made bankrupt the day they got the fine... Or would they have got away with it since they couldn't afford it? Yep, that REALLY sounds like 'fair play' alright...