Town boss Mick McCarthy says Financial Fair Play needs a new name as he believes it has contributed towards creating a less than even playing field in the Championship.

The break-even model adopted by the Championship means clubs are limited to losses of £3 million - plus a further £3 million via owner equity investment - during 2014/15.

But, with Premier League parachute payments having increased to £60 million over four years, the relegated former top flight clubs now have spending power well beyond that of established Championship sides such as the Blues.

“I think they should change the name ‘Financial Fair Play’ - £11 million spent on one player [Fulham’s Ross McCormack]? The parachute payments that they get for coming down out of the Premier League don’t render a fair playing field at all,” McCarthy said.

“But, it makes it more of a challenge and it makes it more interesting and certainly more rewarding when you get results through doing it [while adhering to] Financial Fair Play. And that’s where we’re at.

“Is it possible for us to win promotion? Burnley, I don’t know exactly what they did in terms of their finances, but what a result they had last season.

“Nobody would have sat here a year ago and tipped them to get promoted, so why not? I don’t know if it’s going to be us or somebody else but that’s what we’re trying for.”

A number of clubs appear to have been ignoring the Financial Fair Play rules and will face transfer embargoes in January if their accounts for 2013/14 - which will be published in December - show that to be the case. Sides transgressing the rules who have already been promoted to the Premier League will be hit with hefty fines.

McCarthy hopes that will be the case, although he's not 100 per cent convinced: “I’m waiting to see what happens. Excuse me for being an old cynic. I’ll wait and see what happens to them all.

"If they’re the rules and we’re adhering to them, then I would expect that others do get punished.

“I’ll just wait and see. It remains to be seen with me. I’m wondering how they’re going to do it, what they’re going to do and what sanctions are going to be in place, transfer embargoes and fines. Let’s wait and see what happens.

“But in the meantime, because that doesn’t really bother me, I’ll just crack on and keep doing what I do and we do here and try and get results for Ipswich.”

Photo: Action Images

rambohambo added 06:12 - Aug 9 I think its unfair how a team who gets relegated get all that money QPR must be laughing there heads off , don't see why a team who's relegated becoz there not good enough for the prem get all that money to have another chance , football has changed since the takeover at Chelsea and city , its all about money now
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trncbluearmy added 06:38 - Aug 9 Football changed for ever, and not for the better, when sky rewrote the football history book in 1992 Mick`s right, but no one cares a stuff about the championship,England and the lower leagues it`s all about buying success and greed. For me it`s only my passion for ITFC that has kept me in the game
13

Lord_Mac added 07:52 - Aug 9 It'll never be a level playing field, as long as relegated teams get rewarded for failure. But the year it changes will be the year it happens to us - we all know that! What they should do is to force Premiership teams to write player contracts with relegation clauses in them, so they do not have excessive wage demands when relegated. And the way to do that is to remove parachute payments altogether.

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danieldeath92 added 08:23 - Aug 9 There's one thing money can't buy every team though and that's a history, you talk to a realistic Norwich fan and even they will admit to being jealous of our history
1

Kikapu added 08:25 - Aug 9 Let's hope we have the correct 'financial fair play' accountancy software. Would hate to miss out by 0.3%!
4

brittaniaman added 08:34 - Aug 9 A fairer way would be to share those parachute payments amongst all the championship clubs, so most of the clubs will be able to start on a more level keel ????? but that will never happen because the premier authorities will never hear of it !!!!!!!!!!!!! So ITFC and other clubs who have not had a sniff of the premiership in years have just got to keep on Fighting and I hope one day we will win !!!!!!!!!!!!

1

jas0999 added 08:57 - Aug 9 They will not fine and deduct points from those who have breached the rules. Sadly, I believe some owners are hiding behind FFP.
3

TimmyH added 09:15 - Aug 9 What has happened to QPR and Leicester in terms of fines? - we've heard bu*@er all!
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havinit69 added 09:26 - Aug 9 I say scrap the FFP altogether. Why should it be fair for everyone? Some clubs have more money than others, that's life. Perhaps if they did scrap it, we'd have to come up with another excuse to not spend any money!
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BlueNomad added 10:21 - Aug 9 Havinit - I guess you are one of those who spends money you haven't got then! Don't come back with the "ME is loaded" bit - he is entirely responsible for us having a club at all!
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ChestnutSe added 10:25 - Aug 9 Micks doing a great job without spending any money on fees but the wage demands are as strong as ever, which is why ME keeps needing to subsidise the costs every year to cover the losses. I can't see us getting promoted really unless we strike lucky during a season with all the relegated clubs in disarray OR we get a good influx of special talent over one or two seasons from the academy. Still, hope springs eternal for this. Blue and I will be there this evening willing them all on as usual and supporting every player in a blue shirt. I even supported Lee Martin and he was pants.

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StuartBrett8 added 10:34 - Aug 9 If it ends up being the same 5 or 6 teams bouncing from Premiership to Championship FFP will have to change or teams like us have little chance of getting promotion?
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pazelle added 10:50 - Aug 9 Fining a team with more money than sense isn't punishment. Imposing a transfer embargo on a team which has already bought every player it wanted to isn't punishment.
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battyblue added 12:01 - Aug 9 The only fair way to punish clubs who brake the rules is by deducting points like a point deducted for every x amount over budget and whats the point of imposing fines(if it happens at all) halfway through the next season absolute joke.
4

Marcus added 13:51 - Aug 9 I think it should be 1 point deducted for every 500,000 over the rules, a fine equal to twice that distributed to compliant clubs, a transfer embargo and being shown the paddle of rebuke. Of course that doesn't work at Ipswich as when McCarthy looks at the paddle he thinks it's a mirror.
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Daz added 16:04 - Aug 9 There is nothing wrong with parachute payment or ffp. The prob is that parachute payments were meant to cover prem wages and debts not to buy 10mill players and also new players on high wages. Sort that and it works.
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