You can try but it'll probably not work

It’s most certainly possible to try to ignore economics but it’s not so certain that economics is going to ignore you:

The Gallagher Premiership clubs will each receive a windfall of about £13 million after the league sold a 27 per cent stake to a private equity firm, but they have been ordered not to blow the cash on player salaries.

That’s not the way that sporting teams work. Not, that is, if there’s promotion and relegation.

There’s no specific standard which a team must be at in order to remain in the top flight. They’ve instead just got to be better than the other teams straining to remain in that top flight. That means that there’s no specific level of talent required, instead the team needs the best talent. Once we’re in such a game we find that all of the revenue flowing into the team flows out again to that talent. A new TV contract simply means player salaries go up for example. Most teams don’t make a profit on exactly the same basis.

So, an insistence that this new money not go on salaries isn’t really going to work. There’s only one set up where it might, which is to abolish relegation as in most American sports. Such a creation of a cartel among the owners does mean that limits upon player salaries can be made to stick. But, obviously, at the cost of having created a cartel and limiting the wages of the workers.