Please explain Financial Fair Play in this game to me!!!

I've just started a FM14 game with Monaco. They've instructed me to sign high profile players as part of my 'philosophy' while in charge. To help with that, I've been given a £35m transfer budget + sales. All sounds good so far.

The problem is the new FFP rules. When I started, it was already warning me that I was going to be making a net loss and thus would be over my FFP limit. And now it seems that having bought a couple of players in, I'm about £15m in the red.

Can anyone offer any advice on how to over-come this issue? Is it simply a matter of selling players to reduce the deficit or are there other ways of making up the shortfall? I'm struggling to find a way of both signing high profile players as demanded while at the same time adhering to these restrictions.

Do the financial forecasts include your prize money for your position in the league? Because that seems to me to be the most obvious way of making up the shortfall that it is currently predicting?

Finally, the big question: If I go over my FFP limit, what happens?

Just to be clear: I'm a fan of FFP in real life. But I'm not sure how it works in the game, so need some advice.

Thanks everyone

Easy, sell players to make up for the loss of money in buying players. If your club hits form, more fans will attend your home games and thus the gate receipts will be better also.

This is the explanation:

http://www.financialfairplay.co.uk/financial-fair-play-explained.php

From what i have seen in OneUnited Career thread FFP matters little at Monaco. You will get ludicrous amounts of sponsorship deal to cover your spend. Have a look at the Career Thread from pages 4 and 5 to see his going's on at Monaco.