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question about MLS

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So the NYRB are racking up high profile players, the Galaxy offered 10 million for Frank Lampard. I am an strong MLS fan and an S.O.B. but to be honest I have no clue how the salary cap works. I know that there is some sort of cap but I dont know it, can someone inform me and how LA and NYRB can put out these checks?

Can we expect another move before the transfer window?

Thanks

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