Neither does the US in sports like baseball. Nobody said salary caps are the problem, so it wouldn't be the cause of the sky falling. It's about the salary amount, not whether it's capped.
Salary caps are about how your society values parity in whichever sport it is applied to. Regardless of the salary cap argument, do expect this to affect soccer as well, though further into the future. Right now many of those salaries, bumps for league promotion, etc are based on similar revenue sharing based on TV deals. And as US soccer eyeballs have grown, US TV deals have just added dollars to the already existing and new TV deals in soccer. They are on the upswing at the moment (kinda), but as fans get fed up with these draconian viewership requirements they are going to have to fight for the same in-between viewers (i.e. ones that would watch, but don't have to at all costs) that US sports are vying for across new mediums.
I should clarify that it won't affect the top teams in these situations. Man U and Barca and what not will still be fine due to ancillary sales and their brand. Rather it will affect the vast majority of other teams. Some owners are willing to take a hit, but only so much and for so long (except the super rich ones for which their team is their play thing).
Mostly similar teams, but surprising rises and declines do happen. The relegation system is a huge part of the fun for people watching, too. (So two good teams from second league make it into first every year in eg the German football system.)
Hoffenheim's football team is an interesting example (http://www.independent.co.uk/sport/football/european/hoffenh...). They did have a rich guy backing them, though; but still came out of basically nowhere into the Bundesliga in a few short years. Though still:
> “Obviously we are not spending money like the big clubs in Germany so we are really focusing on our youth development, on our academy. There is a big number of players like Niklas Sule [sold to Bayern Munich this summer for £18m], [Jeremy] Toljan, [Nadiem] Amiri, [Philipp] Ochs who all came from our Under-17s and Under-19s. That's what we want to keep on doing: develop our own guys, but also sign players for less money who increase their market value. This is how we are working.”
Salary caps are about how your society values parity in whichever sport it is applied to. Regardless of the salary cap argument, do expect this to affect soccer as well, though further into the future. Right now many of those salaries, bumps for league promotion, etc are based on similar revenue sharing based on TV deals. And as US soccer eyeballs have grown, US TV deals have just added dollars to the already existing and new TV deals in soccer. They are on the upswing at the moment (kinda), but as fans get fed up with these draconian viewership requirements they are going to have to fight for the same in-between viewers (i.e. ones that would watch, but don't have to at all costs) that US sports are vying for across new mediums.
I should clarify that it won't affect the top teams in these situations. Man U and Barca and what not will still be fine due to ancillary sales and their brand. Rather it will affect the vast majority of other teams. Some owners are willing to take a hit, but only so much and for so long (except the super rich ones for which their team is their play thing).