I wish I would be Commissioner of all sports. I would do the following:
Institute a MINIMUM salary cap. Teams like the Florida Marlins, Houston Astros should not be rewarded with money by failing to put a competitive team on the field. The fans should NOT be punished by their owner desire for mediocrity. There needs to be competition.
Eliminate the salary cap. Except for rookies
Eliminate any tax exempt status by all owners. Sorry you do business in this country you pay taxes.