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Hi all- FFP on FM in the Championship

Hi all. I have played FM but not for a few years. Perhaps I'll get a recent edition.

How quickly do points deductions kick in these days for breaching the 3 year £39m limit. Is it the season following the breach or is it thst it might be applied if the projections show a breach in March?

Can they even demote from top 2 to playoffs, top 6 to outside or indeed top 2 to 7th say.