Originally posted by TopGun2
1) The wage bill. Trim the squad to match your needs, negotiate them down as best you can and, if you're going to get relegated pop in a bunch of relegation wage reduction clauses. Sell your highest earners and bring in younger lower rated players with potential to replace them. Lock in low wages on those young players and then train them up. You should be able to do that without dropping much down the league but will have a better base for turning a profit.
With the right negotiating techniques, you can cut down the daily wages significantly. One of the best options is to offer longer contracts than the player wants. They will usually accept them, and a player will value a 4-season contract on 5000 per day about as much as a 2-season contract on 10000 per day. You can significantly
reduce wages of your top earners this way while locking your players into long contracts (saving future sign on fees).
You want to get your lower rated players on 5 season contracts every single time. You can train them up and end up with high rated players still on a pittance until their contract expires.
The issue arises once the player is maxing out their stats and you have to renegotiate, but there's still ways to save money on daily wages. For example, if I have a youngish (under 27) player that's already fully trained up, then I offer them as long a contract as they'll take with no sign-on fee and 30% seasonal wage rise. They will accept lower daily wages than they're asking for because they think they'll earn more money in the long term. Then when that 30% rise kicks in, I just renegotiate the contract again (again with no sell on) back to the original wage. This is a good way to make the player think he's getting an amazing deal worth millions over the course of the contract, but he never actually gets to see any of his seasonal wage rises.
You do have to keep track of which player are on this type of contract though or it will become very expensive very quickly!
This will become less effective as players age because your negotiation options become limited when they're nearing retirement. At this point you probably want to consider selling them and replacing them with young players you can train up again.