Boss Mick McCarthy says he’s sure a number of Championship clubs aren’t adhering to the Financial Fair Play rules (FFP) and will welcome action being taken against them. While the Blues are keeping to the new rules which are designed to ensure clubs no longer build up huge debts, around five or six sides appear to be entirely ignoring them.
"Financial Fair Play is there for everybody to supposedly adhere to. We're adhering to Financial Fair Play. I'm not sure everyone else is. In fact I'm damn sure not everybody else is," McCarthy told BBC East in an interview for next Monday evening’s Late Kick Off East (11.20pm).
From this season, Championship sides are limited to losses of £3 million plus a further £5 million via owner equity investment, although some spending, such as academies, fall outside those limits.
Clubs will have to reveal their accounts for this season in December with those that are found to have overspent facing transfer embargoes or, if they have been promoted to the Premier League by that time, fines.
The FFP rules were agreed back in April 2012 with 21 Championship clubs, including Town, voting in favour and three against.
McCarthy says that contrary to popular perception, Blues owner Marcus Evans has continued to invest as much cash as he can within the limits imposed by FFP.
"People say we haven't spent anything but I reckon Marcus has put £5 million of his own dough in just to keep us where we are,” he added.
"Within those parameters, we've done well. I get frustrated at times and think we could do better, but it's not down to the funding.
"I'm reading that QPR and a few others could be having a huge fine [if they go up]. I'd like to see it and I'd like to know who's going to take the money and where it's going.
"We're sticking to it and, within it, we're doing really well. We've had some really good signings as well, bearing in mind they were Bosman signings - they've come in and given some really good performances."
Speaking earlier this month in the wake of reports that those sides who are transgressing the rules could launch a legal challenge, joint-MD Ian Milne said most Championship clubs are determined to make the rules work.
"The latest view that we’ve got is that the majority of the Championship clubs are very much backing Financial Fair Play.”
He added: "[Those who ignore FFP] will suffer the penalties, that’s the view of the majority.”