I'd be very interested to see how that works and what the cap actually is. Unless it was almost unlimited, I'm not sure how they could have fit the likes of the Franks brothers, Brad Thorn, Sam Whitelock, McCaw, Read, Ellis, Carter, $BW, Guildford and Dagg - all established All Blacks last year - under the 'cap'.
I'm not 100% sure of how it works but here goes my guess....
Players are contracted to provinces and the NZRFU. All the provinces are allocated to a Super Rugby catchment area eg. Northland, Nth Harbour, Auckland = The Blues. Counties Manakau, Bay of Plenty = The Chiefs etc.
The provinces have a salary cap of around $2million. So if Auckland wanted Dan Carter to play for them, he would have to play for someone like Nth Harbour or Auckland in the ITM Cup and fit into their salary cap.
After the ITM Cup, the Super Rugby franchises then 'protect' 30-odd players from their allocated provinces in their squad for the up-coming Super Rugby season. Any players missing out can then get picked up by any other Super Rugby franchise in NZ.
I would be surprised if a lot of those guys in Canterbury on massive contracts. Their contract, I believe, is actually with the NZRFU and a lot of players go there for more than just the money.
1. The rugby environment. The set-up in Canterbury (credited to Wayne Smith mostly) is the best in NZ (ouch) especially for young up-and-comers.
2. Profile. Playing in a winning team raises a players profile and is great for players trying to keep stepping up - the aim obviously to become an AB. Cos that's where the big dollars are.
Not only do ABs get paid pretty good money but a players asking value can go up considerably world-wide if they can have say they pulled on the black jersey on their CV.
There have been a couple of pretty 'fishy' deals done that I alluded to earlier where players have gone to smaller provinces or unions to play with no real intention os actually playing for them but simply to get into the Crusaders catchment area.
There's probably a couple of holes in there but at the end of the day, the Crusaders simply cannot go and offer $$ to get players into the team - it just doesn't work like that.