UEFA president Michel Platini has outlined plans to "protect" English teams from spiralling debts.
Frenchman Platini has often been accused of disliking English football - something he vehemently denies - but he insists the measures, which will be formulated by a UEFA committee from Monday onwards, are designed to help the clubs in the long-term.
And he warned that failure to comply could see them banned from UEFA competitions.
"We have three years to regulate the situation. The idea is not to kill the clubs but to help them have better balances," Platini told the Daily Telegraph.
"The philosophy to participate in our competitions is you must not spend more money than you receive.
"If (Manchester) United have 300 million euros and they spend 400 million euros - no!
"If Liverpool pay 60 million euros (in interest) every year to the banks, it's a lot of money.
"Every owner has asked me for a better philosophy, for better transparency. In Germany, debts are not accepted. In England they are.
"Some of the chief executives are not okay with the chance of new regulations because they don't want to change their business. The owners are okay with it."