Because it doesn't come at a serious cost.
Around half of the Championship is reportedly in breach of the P&S rules. If half of the UK was avoiding tax then there's a fundamental flaw in the framework and it would have to change, no?
I've mentioned at least 3 ideas to drive change but fine. The real issue with FFP is that it doesn't incentivise clubs/owners to change their spending habits. So, I'd probably start there. They also need to stop implementing rules that incentivise overspending.
As for regulation replacements I'm not anywhere near qualified to put any forward en-masse and the issue is, is that revenue within the game has grown to such a level that whatever solution people come up with, will be filled with holes. I'd suggest although I dislike them and think it probably won't work, the only way to drive sustainability within football in the UK as a whole in the immediate term would be to introduce a soft salary cap. But those again could be exploited and will likely make it harder for smaller clubs such as Wycombe or Accrington to achieve promotions.
So we agree that clubs need oversight because they won't do it themselves and that the current FFP is being abused by owners.
Where we seem to disagree is that you believe there would be some far better system to be built from scratch that would be much better, I don't. Maybe I'm just not creative enough to think of it but history shows that whatever rules you bring in someone will try, and eventually succeed, in getting around them. You even say yourself that whatever solution people come up with will be filled with holes.
The 'soft salary cap' is what FFP is effectively. It says teams can spend a certain percentage of their income on wages. Issue is what teams are classifying as income and as you also say those can be exploited.
I'm not sure how you incentivise people to stay within the spending limits? I'm afraid punishment for me is the only way you can make it work. Given that on the whole money buys success the only thing that would incentivise is giving clubs more money. But no way can the authorities afford to offer enough money to make it more worthwhile to the big clubs to stay with the limits than just spend excessively. It's the reason why we send people to prison for stealing or attacking people rather than giving money to people that don't.
Even if you did bring an incentives system in clubs would just look for ways to bend the rules to make it so they qualify for the incentives just as they try and bend them now to avoid penalties and sanctions.
Btw, I think you'd probably find a huge amount of people are avoiding tax. How may people pay someone cash in hand to do a job and it doesn't go through the books? The entire accounting industry basically exists to find ways for businesses to avoid tax via loopholes. Most of the time the amounts are not big enough to be cost-efficient to chase up (but added together make up a lot) while the huge sums are hard to prove because those involved have money and access to expertise. It's a system that is being abused constantly but you have to accept it cannot be perfect and it is constantly updated to try and minimise the amount it's being abused (often with limited effect).
