There are always question marks over the future.
There will be a million ways to get around the fair play rules, I imagine clubs across the board will manage it - and if it comes to it, the likes of Man City may deem it to be worth it to not be in the champions league one year so they can spend £250million in a summer that will set them up for years to come.
I see Chelsea today posted an increased loss of £70m for the 09/10 financial year compared to £44m in 08/09 (good day to bury bad news). I really can't see you meeting the FFP regulations after your transfer activity today.