Get rid of this anti-competitive nonsense that promotes mediocrity and is an antithesis to the spirit of sport. Small clubs are prevented entry to the market as they need a high minimum standard to enter the league. There is no entering the market at a lower level with a hope to build yourself up. Instead the governing body must approve any club to join the league essentially getting rid of competition to the cartel of clubs currently in he league. Ambitious club are prevented from reaching their potential (and subsequently having their best players poached from Asian clubs that have no salary restriction) and hence are getting massacred in the Asian Champions League where salary capped Australian teams are playing against Asian football sides with no salary restriction in an absolute mismatched. Poorly managed clubs are bailed out by the governing body because they are "too big to fail" instead of being organically replace by newly emerging competitive club
Salary cap may make some degree of sense if you are playing a sport where there is no serious global competitors for your players. I mean sports like AFL or the American equivalent NFL, there is no global competitors competing to buy those players as no other country take those sports seriously. Or sports like basketball where they may be played seriously in other countries but the wages are minuscule compared to what can be earn in the NBA. I may not like the salary cap as a matter of principle (as it is anticompetition and hence anti-sport) but it does make logical sense from a practical point of view.
However Sports where there is a global market like Soccer and where there is a global competition. Salary cap means handicapping a club from retaining or buying players from foreign competitors with no such restriction and handicapping a club from competing on the field against clubs who are not restricted from salary cap.