Yeah there is, but it's not a hard cap and just prevents you from spending big bonuses the next couple of years. IIRC going over the cap by a dollar or 20 million is the same penalty, you can't give big bonuses the next two years. So the Giants dropped a huge amount a few years ago when they got a stud filled prospect class headlined by their current top prospect, knowing they just wouldn't be able to land a big guy the next two years. I'm a bit hazy on the details as well, but it's something like that. Just one of the ways the Rockies could have gotten way better prospects. Another example (always going to use Giants because I know them best) is the Giants getting the Angels 1st round pick Will Wilson for taking Zach Cozart's 13M contract and cutting him.