Lets not get too concerned about this until we have seen the details.

I am fully in favour of the cap remaining at the current level. However I would also like to see an allowance for only the first £175000 of a players wage to count against the cap.

That way clubs could keep high profile players and even pay for the best NRL players to play which would increase standards in SL. At the same time it would still prevent richer clubs buying up all the best available talent and making the league uncompetitive and keep the need for player development.

If I've read the cap regulations correctly, transfer fees are exempt - so as well as Joel's wages he could have picked up the 250k transfer fee paid by Saracens.

If you mean Wigan could have given the £250k from Joel's transfer to Sam, no, that would not be legal. He would need to pay tax on it and it would count on the cap as it would just be Wigan paying him an extra £250k. Unless Sam owned Joel personally.

It's possible I'm misinterpreting the 2009 cap regulations but pages 30/31 state:

5.0 NON-SALARY CAP RELEVANT INCOME
5.1 Sale Proceeds from the sale of assets.
5.2 Transfer Fee Income received.
5.3 Any Challenge Cup Prize Money as per the schedule issued from time to time should be excluded from income providing the following is observed.
5.3.1 The prize money is paid to the players within 60 days of receipt by the club.
5.3.2 Any excess of bonus over prize money received and paid out by the club is
classed as Salary Cap relevant cost.
5.3.3 Any excess of prize money over bonus paid out may be included as Salary Cap relevant income.
For the avoidance of doubt, any payments paid out by clubs prior to receipt of prize money, cannot be retrospectively or notionally set off against prize money.