That highlighted passage is why it wouldn't be voted through. There's too much risk it destroys 'the product'.
It'd have to be imposed - either by the government (which I think is unlikely) or by UEFA / FIFA (and I think that's also unlikely).
American professional sports have been able to get the whole drafting system working chiefly because there's never been any international competition. It's just not the same with football.
Even if this was UEFA-wide, you can imagine the Saudis and others - maybe even MLS - leaping at the opportunity to buy up all the best players.
It's the sort of thing that would need to be established at the FIFA-level. But as we know, they do nothing for the good of the game.
Something has to be done - football is on it's way to eating itself.
States owning clubs - which the UK Government forced through. And even with regards to Man City;
Manchester City’s Premier League charges discussed by UK government and its embassy in Abu Dhabi
The UK government has admitted its embassy in Abu Dhabi and the Foreign Commonwealth & Development Office (FCDO) in London have discussed the charges levelled at Manchester City by the Premier League, but are refusing to disclose the correspondence because it could risk the UK’s relationship...
www.nytimes.com
It all absolutely stinks.