Basically, clubs can now only spend 85% of their revenue. If anything, it puts us at a pretty significant disadvantage as our parachute payments are now done so will need to move the high earners out before we can spend anything - including on salaries. Even with the premier league relegation clauses dropping salaries, players like Gus will still be on a significant chunk of change.
I would suspect there will be some kind of ‘soft launch’ this season - a bit less strict as sides like us have to get ourselves in a position to comply without completely fucking ourselves over - but it means next season is likely to be more painful than initially anticipated unfortunately.