They'd definitely get more than they currently are! For proof look to the rorting efforts of Dogs and Storm in the last 10 years.
Many clubs (most?) can afford to spend more than the salary cap. So deals would certainly increase.
Also, there are already multi million dollar contracts - if Thurston's reported deal isn't "multi" million dollar, then I'm not sure what is?
I doubt anyone would get $2m per year straight off the bat, but it wouldn't be beyond the realms of imagination to see those numbers without a cap.
I think it's a bad idea, it'd mean poor clubs are perennially bad clubs
I was referring to the multimillion deals that topline Euro soccer players get. I agree initially players would receive pay increases, starting with bidding wars for representative players. Politis would go to Cameron Smith and ask how much he would have to offer to get him to Roosters, then he'd go back and try to make that happen and so on. Then clubs would move onto the best junior talent, buy them up and stockpile them. The excess money is now starting to dry up so the next tier will initially be only earning roughly want they are now and some of these guys will recognise they can earn more easier overseas or in a different sport.
This will happen year after year until it's the national teams plus guys like you and me. And there'd be entire teams (say Tigers & Penrith) who'd be almost entirely made up of park players with some decent under radar players who'd they'd probably lose in couple of years anyway. So the competition starts to suffer, there'd be some fans who stuck with it, but as I said for these dollar salaries for every 1 fan you lose would be the equivalent of 200 Man Utd fans leaving them. Then as fans leave, sponsors leave, which of course means less money for players, so more players start leaving.
No salary cap would work, just not the way the people (current players, agents, big market clubs) who would benefit the most initially from it would want it to work. The economy, fanbase & time would calculate how much the 'salary cap' was