That is entirely fan rumour though, isn't it? Nothing based in any fact or sourced in any way. There's no way the elite would allow it to be scrapped, especially now when they're all ****ed financially. The current reporting period has been extended by a year to cover the COVID losses but that's all that has come from offical channels.
Well media rumour too but it is speculation based on comments by a UEFA employee - so yeah its certainly nothing set in stone but its also not a random fan-started rumour with absolutely no basis.
A UEFA employee quoted as saying FFP in its current format was "purposeless" in a meeting co-hosted by UEFA and European Parliament. In fairness much of the comments were about replacing FFP rather than scrapping it with no replacement and a more proactive financial control that looks at transfer fees/wages - rumours range from a salary cap to a luxury tax - the former probably would please the biggest proponents of the Super League more, the latter the owners with the wealth to outspend anyone.
But - if you are Barcelona and Real Madrid - getting rid of FFP (depending on what the replacement is) may be appealing. May give them hope of getting rid of salary caps in Spain and Barcelona can try and compete with leading clubs again as long as someone is happy enough to loan them more money.
In terms of the PL - I'm not sure if Chelsea or Man City would be especially bothered - arguably no FFP gives even more opportunity to try and pull away from Man Utd and Liverpool. Arsenal with their spending in recent years and Europa League/no European football will presumably be getting quite close to FFP so if Kroenke suddenly decides to sell in the next couple years, the new owner would love no FFP to try and get back into that top 4. The more ambitious owners in the PL outside 'The Big 6' would probably prefer no FFP too.
But either way Newcastle, if they choose to spend big, have a bit of leeway in the short-term - title challenge will be tough but maybe they can use the system somewhat to their advantage re amortisation to be regularly in Europe, ocassionally challening for the CL later in the decade. Especially given their links to other companies maybe they can get favourable sponsorship deals.
But if they wanted to maybe max out your PL FFP in the next couple of years then look to renew contracts in 2 years time. So if they signed Lingaard for 40mil as a random example on a 4 year deal = 10mil per year in terms of amortisation costs. In 2 years time, give him a 5 year deal - 20mil remaining value/5 = 4million per year on the books. If they qualify for Europe ahead of schedule - punishment may just be a fine anyway but if its a ban from European comps for that season so be it I guess in the long game.
Of course maybe the speculation is just speculation and the owners are happy with the club just ticking over in the top half, being a fun team to watch and so not having to spend huge amounts (although small for them) to be challenging for titles. The money needed to go from 10th to 4th consistently would be quite a bit compared to the payoff (UCL money) which isn't even guaranteed.