However, he has likened the Financial Fair Play Initiative to a 'soft salary cap' which will see clubs start to tighten their belts.
UEFA's new rules are being introduced in a bid to ensure clubs do not spend more money than they earn. They will be introduced gradually, but in extreme cases teams could be banned from the Champions League and Europa League from 2014.
No worries: Premier League chief executive Richard Scudamore insists clubs like Manchester City won't be held back by UEFA's new financial laws
There are concerns English clubs will be hit hard, particularly those backed by free-spending billionaires such as Manchester City and Chelsea.
However, Scudamore said: 'I don't see any circumstances where any of our clubs could get near to exclusion.
'UEFA is too sensible, and it's not in its interests to do so. It's more about taking the steam out of the system and acting as a speed bump rather than about barring clubs.'
High hopes: Premier League chief executive Richard Scudamore
Scudamore insists the Premier League are backing the measures.
He said: 'In general we're supportive. It's very hard not to be. Break-even as a concept has got to be good in business.
'Manchester City are starting to plan and are disposing of some of their assets this transfer window.
'They're a very well-run club, they know what they have to do and I'm sure they'll do it.'
With the vast majority of clubs' outlay being spent on wages, Scudamore said: 'It is a "soft" salary cap in effect.
'By far the largest expense is in this area, so by definition it will have an impact on wages and squad sizes and that's great.
'No one in football is proud of the kind of wage inflation we've experienced, but equally we mustn't do anything that dampens the international appeal of our league.'
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