I am not a fan of government limiting pay period. There are determining factors related to how people are paid which is best left to the private sector to decide. However, I would like to see an end to the use of tax payer funds to build sports venues. If they can afford to pay exorbitant salaries to players then they can certainly afford to build their own arenas and stadiums to house them.
Edit: And just for the "no because they didn't receive a bailout" crowd. Exactly how do you define tax payer money used to build these stadiums when the cities do not end owning the venue? Sounds an awful lot like a bailout to me, but really it is more like a handout since these are not loans but rather outright gifts.