Championship clubs have joined their counterparts in League One and League Two by voting in favour of Financial Fair Play regulations for next season.
As a result, all clubs will now have new guidelines on the limits of their pre-tax losses.
"They will begin to lay the foundations for a league of financially self-sustaining football clubs," said Football League chairman Greg Clarke.
The new rules will see limits on losses reduced from £12m to £5m over the next five campaigns.
Harsher sanctions will also be implemented for the teams that fail to comply with the regulations.