The principle is exactly the same though, wherever the league there are FFP rules, and if they are broken then a fine is issued (usually negotiated over a protected period and then a settlement is agreed upon and paid), I've yet to see a fine issued and paid that act as a deterant vs the gain that was achieved for breaking it.
I don't think Boehly is inventing loopholes, I think they don't give a fuck, they are going to break FFP and factor in the fine/settlement as part of the cost.
Fair point regarding the players they are signing, I don't know much about most of them. I've seen it written that these players are on smaller salaries, whilst they are getting rid of those on big wages. But this is bogus too, as Sterling is on £325k pw, Enzo on £315k pw, James handed a new contract of £250k pw etc, etc....Also, these players have agents who's actual job is to get what is deemed "market rate" for their salaries, Caicedo would have been offered similar wages at Liverpool as he's getting at Chavs for example.
Spain and France have issued more than fines, they've relegated clubs and put transfer embargo's on their own clubs. Both countries are pretty hot on their own FFP compliance.