Hull chairman Adam Pearson believes a salary cap based on a percentage of turnover could improve the financial health of football.
Pearson returned to Hull this season after a stint with Derby and this week outlined his plans to cut the Tigers' wage bill by around £9million to prevent the club plunging into serious financial difficulty.
He told the Yorkshire Post: "Clubs have to have a grip on wages and that is why I believe a salary cap would be in the interests of football."
Hull were virtually debt-free when they won promotion to the top flight in 2008 but their spending since, in attempting to compete in the Barclays Premier League, has been damaging.
They have several players on high wages who Pearson would like to see leave, but finding clubs who are prepared to take them on their current terms is a difficult task.
Pearson believes the game would benefit if clubs have limits imposed on their wage bill, which could help to prevent circumstances such as that which Hull are facing.
He added: "If a club has a turnover of £50million, for instance, then 55-60 per cent would be an acceptable amount to spend on wages with maybe a further £1.5million to be paid on agents' fees.
"The rest could then be used on improving the infrastructure of the club. It is not rocket science."
Copyright (c) PA Sport 2009, All Rights Reserved.