Speaking at Leaders in Football conference, he said: "The problem we have identified with Financial Fair Play is that it goes a long way to preserving the status quo and one of the great things about football in this country is that if you are in last place in League Two, you can still hope that someday you will win the Premier League. That is now difficult if not impossible due to Financial Fair Play.
"We feel what we have done is that we had a broken finger, so we cut off the arm."
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