English Football League executive chairwoman Debbie Jevans says she wants clubs to consider salary caps.
It follows the grim financial struggles of Bolton and Bury.
While the sale of Sky Bet League One club Bolton to Football Ventures was completed on Wednesday, Bury had already seen a prospective takeover and last-minute rescue talks collapse, before losing their EFL status.
It meant that Bury became the first league casualties since Maidstone were liquidated 27 years ago.
Asked about possible salary caps, Jevans told the BBC: "Player wages do need to be considered, without question.
"If your revenue is X amount and your outgoings are X-plus, clearly in the long term, that is not going to be sustainable.
🔵⚪ The Club are taking stock of recent developments and will update supporters with regards to season ticket refunds as soon as we can, please give us time to take all this in... pic.twitter.com/moEMexwLB5 — Bury Football Club (@buryfcofficial) August 28, 2019
"Salary caps are something I absolutely want clubs to consider. We need to think and look at that and I will ask the clubs to consider it.
"Ultimately, it is their decision and I respect that. All I am saying is that we must look at that."
Bolton were on the verge of liquidation after the EFL gave the club's administrators 14 days to either sell the Trotters or prove they could be funded for the rest of the season.
📰 Breaking: We are pleased to announce the sale of Bolton Wanderers to Football Ventures (Whites) Limited has been completed. 👉🏻 https://t.co/HUrXBKeVB2#BWFC 🐘🏰 — Bolton Wanderers FC (@OfficialBWFC) August 28, 2019
But they will now battle on, having been in administration since May, which meant they started the current league season on minus 12 points.
Football Ventures said it had "remained focused on completion of the deal and nothing else", adding that it was now "imperative" to begin the process of appointing a new manager.
Phil Parkinson and his assistant Steve Parkin stepped down from their roles last week.
"We understand Phil Parkinson and Steve Parkin's decision to leave the club," Football Ventures said, in a statement.
"They have behaved impeccably and loyally, and we wish them both nothing but the best for whatever the future may hold.
"It is now imperative that we commence the process of appointing a manager and strengthening the team with the right players to take the club forward."
