"I'm not absolutely certain yet [whether we can afford Carroll] because our budgets haven't been set yet, but it can be a deciding factor in terms of where we go and what we want to bring in next year," Allardyce told reporters after last night's 2-2 draw with Manchester United.
"The implications of Financial Fair Play will take its toll, and that might be a case where it takes its toll. It makes our lives a little bit more difficult, but I can understand everybody wants a bit more financial stability. I can understand that but it doesn't make my life any easier."
Meanwhile, Carroll admitted that he is enjoying his time with the Hammers but is also unsure as to where his future lies after this season.
"I've loved every minute the lads have been great. There are still a few games left [but] I've got to wait and see what happens," the England international told Sky Sports News.
Carroll was signed by Liverpool for £35m in January 2011.