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Does the EPL need a salary cap?

In his column (seen here) Grant Wahl argues that the 4 6-0 scorelines so far in the EPL suggest a lack of competitive balance that is hurting the EPL. He goes on to say that sooner or later, the EPL will need to introduce some sort of salary cap (not as stringent as some American leagues).

What do you think of this? I have some reservations about this and how it will be implemented. How can you take a team that was built without a salary cap and shove it under a cap without decimating each team at  the top?

I would also like to know how this would reveberate through the lower leagues. I am not sure that the lower divisions could handle the same salary cap as premier teams. This could lead to the same teams bouncing back and forth between promotion and relegation.

Finally, and the biggest strike against this, is that a salary cap could be the death of the EPL if other leagues do not adapt a similar cap. The biggest draw for stars is the chance to play Champions League football. Do you think they would jeopardize this and sign as the star for a weak team in the EPL when they could make more money and be guaranteed Champions League with Real Madrid, Inter Milan, etc?

If a salary cap is implemented in England but not other countries, I think we will see a mass exodus of stars, weakening the league. Although it hurts the competitive balance at times, I think that these scorelines are an early abberation and nothing to worry about. As Wahl says, this has happened only 20 other times so it looks like more of a early season deviation related to teams finding their identity, form and chemistry rather than a long term problem. I think that the lack of a salary cap is fine for the EPL and one should not be implemented.

Thoughts?

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