One way to lower a team's overall salary is to cut certain players' salaries. This can be done with players that have low attributes but high salaries. To do this, go to "Rosters" and select "Edit player". Select a player on the team that has a low overall rating (anything under the low 80s) and has a high salary. When you choose to edit the players "Attributes", you will notice that his salary decreases. Do not change anything in his attributes and exit out. You have now made your first budget cut of the season.