For this league just because this is a 1992 league, there will be absolutely no salary cap. That being said, teams will still be penalized the same way if they go over their team's budget, now this is where it gets complicated.
As I had mentioned before this a 1992 league meaning that the players only get a fraction of what players get now a days. Unfortunately, this is EHM and they are not aware of that so when it comes time to resign them they will want normal, mordern day money.
This is where YOU come, I am going to put faith in the GMs to ensure that nobody is tanking hard or getting the players that have really high salaries. I will give all the teams a $110,000,000 budget and as I said before you will get penalized if you go over.*
1st Warning - Friendly warning to fix your cap.
2nd Warning - Best Player is benched.
3rd Warning - Starting goalie is benched for the sim.
4th Warning - Top player from each position is benched.
5th Warning+ - 4th warning applies as well as a deduction of 10 points and 2 scouting reports.
*If you give me a legitimate reason as to why you cannot be within your budget you might get lighter/no penalties.