Uefa president Michel Platini has stressed the importance of financial fair play for the future of football.
The Frenchman explained that his organisation's new rules have been devised to ensure the sustainability of the game by curtailing excessive spending.
"It is a complex project, but one which I consider vital for football's future," Platini told Uefa's official website.
"Financial fair play is not aimed at putting clubs in difficulty. On the contrary, it aims to help them exit an infernal spiral which prevents certain of them from having a viable medium-term or long-term model.
"Supporters and lovers of football have no interest in seeing clubs that are part of European football's heritage disappear as a result of hazardous management. It was necessary for an authority to intervene, and this is what we are doing.
"If clubs do not respect what has been the will of European football, they will have to face the consequences. There is no going back."