Former Crystal Palace chairman Simon Jordan has called for the EFL to adopt a strict Financial Fair Play policy upon the clubs in the Championship.
Amid the coronavirus crisis, ongoing discussions have been held around a potential wage cap in the division, while some FFP regulations are already in place.
However, Jordan believes the rules should orientate around a percentage of turnover and wants strict punishments for those who are guilty of infringement.
"If you move into a territory where people are able to build it into their business model and say 'I tell you what, I'm going to spend £4m because I can afford to and I'm a wealthy owner right now', then you're not actually achieving what you want to achieve," he told TalkSport.
"Which is, basically financial sustainability of that particular division and I think, particularly with the Championship, it has to be a percentage of turnover, I don't think it should be a fixed figure.
"Make it a percentage of turnover and force it, rather than financial repercussions, with geographical ones and by that I mean relegating clubs, taking points away from sides that do not comply, and then you'll concentrate people's minds.
"Whilst I see it and I think there's some clever thinking, some redistribution amongst the club, I just think it's a weaker solution because you've got to get 72 clubs to buy into it and, if they don't buy it now with all the carnage that we're seeing, when are they ever going to buy into it?"
Leeds United will be hoping to leave the Championship and its financial issues behind them this season and are currently sitting at the top of the division with five games remaining.
