Ricky Parry says the EFL are "absolutely committed" to introducing a "sustainable" salary cap across its three divisions.
Last season, Sunderland were forced to limit their spending to £2.5million per season on player wages, before the idea was scrapped at the end of the campaign.
There were a whole host of clubs opposed to the hard salary cap which put clubs like Sunderland under financial restraints.
The Black Cats have historically had a bigger budget as a result of their huge fanbase and recent history in the Premier League.
Clubs will revert back to the old Salary Cost Management Protocols for next season and there are discussions being had to potentially limit squad sizes to 22 players.
Speaking in an interview with the Football Business magazine, Parry said: "We had a hard cap in Leagues One and Two, but we had to come away from it because of procedural challenges and the Professional Footballers Association challenged it.
"The principle was accepted in the Championship and there was a lot of discussion about the amounts, but a hard cap poses challenges in the Championship.
"There are issues whether it would make clubs non-competitive, so we paused and there is a lot of debate now about moving ahead with some sort of percentage cap.
"There is an absolute commitment to move forward on this as soon as we can.
“Categorically we can, and we will.
"We are not trying to bring everybody down to the lowest common denominator.
"It is all about sustainability and recognising that not everybody has a fortune to spend.
"This isn’t just about every club rising from the Championship to the Premier League, it is about enabling clubs to rise from non-league to the Championship.”
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