For reference, here is a comparison between the wage budgets of all Premier League clubs in 2019-2020 and how those budgets would be affected if a similar financial regulation-system as La Liga use was enforced for the 2021-2022 season. All graphics used to provide this information comes from the Athletic!
Manchester City: ?351M to ?428M (+ ?77M)
Manchester United: ?284M to ?456M ( + ?172M)
Liverpool: ?326M to ?339M (+ ?13M)
Chelsea: ?283M to ?351M (+ ?68M)
Arsenal: ?225M to ?316M (+ ?91M)
Tottenham: ?181M to ?346M (+ ?165M)
Leicester City: ?157M to ?94M (- ?63M)
Everton: ?165M to ?49M (- ?116M)
Aston Villa: ?109M to ?67M (- ?42M)
Crystal Palace: ?132M to ?70M (- ?62M)
West Ham: ?127M to ?132M (+ ?5M)
Southampton: ?114M to ?120M (+ ?6M)
Brighton: ?103M to ?74M (- ?29M)
Newcastle: ?101M to ?141M (+ ?40M)
Burnley: ?100M to ?106M (+ ?6M)
Watford: ?96M to ?71M (- ?25M)
Wolves: ?95M to ?104M (+ ?9M)
Norwich: ?89M to ?92M (+ ?3M)
Some interesting points here. With La liga's regulations, Everton would be given a wage budget similar to that of Real Valladolid & Getafe, and less than that of Granada & Celta Vigo. Other big overspenders are Leicester City, Crystal Palace and Aston Villa, who would all be forced to lower their budget significantly. Leicester would be lower than the likes of Athletic Bilbao, Real Sociedad and Valencia.
This also shows the sustainability of the "top 6" compared to the others. They would all be allowed significantly increased wage budgets compared to 2019-2020 despite the impact of covid 19. In contrast, the other clubs are having to stretch themselves and take huge financial gambles to have the slightest chance of keeping up.