Worldwide salary cap

I'm a fan of the idea of a salary cap (a hard salary cap that is, like in the NHL) and found a way to limit annual wages in a league using the editor. However, I'm not sure if it's going to work out the way I hope, as it would require to manually change all individual salaries to get under the salary cap from the start. It'll be impossible to keep top players at current clubs, since their existing contracts are too expensive and the players have to agree to less salary with the cap (if it works).

Are there any existing db with a working, world wide (or top European leagues) salary cap?

Is it possible to do this?

Cheers

Start a custom database from scratch with a cap in place, so salaries align from the beginning.
drift hunters

So if I limit the salary cap in the pre-game editor, the existing salaries should adjust automatically?

When I create a new game, the salary cap works just fine, but the salaries do not adjust. Instead, most players in the top teams are transfer listed and those who are not are refusing to sign a new contract due to the financial limitations.