To be honest, now is the only time I'd believe it.
Reduced salary cap, marquee spot removed. All clubs need to reduce their wage bill.
If, for example, you're currently on £300k and your current club offer you a new contract at £200k, but someone else offers at £250k then it is a big pay cut, but also more than he was being offered to stay.
If the salary cap has reduced by nearly £1.5m, and suddenly at renewal time some players salaries which are currently only contributing 75% to the cap are going to be increased to 100%, there will be a lot of players being offered reduced salary deals to stay....... And some of them will leave