Seven clubs, including Saracens, want the cap – which this season is £4.76million – scrapped and the issue will be discussed at the upcoming Premier Rugby Limited shareholder meeting in February.
Edward Griffiths, Saracens chief executive, has issued a damning assessment of the state of elite rugby union in England under the current regulations, as the sport's best players continue to have their heads turned by lucrative deals on offer elsewhere, predominantly by Top 14 clubs.
"The salary cap has served its purpose," Griffiths told Saracens' official website.
"It's time to seize a golden opportunity to grow the game, to ensure a level playing field in Europe, to build the strongest league in world rugby and to let players earn market-related salaries.
"The combination of England hosting the Rugby World Cup in 2015 and Sevens featuring in the 2016 Olympic Games creates a historic but fleeting platform for rugby union to grow dramatically.
"We must release the handbrake and step on the accelerator.
"The clubs need to encourage investment, to provide the spectacle and quality deserved by our broadcast partner, BT Sport, and title sponsor, Aviva.
"It would be a pity if the world’s top players light up the World Cup on English soil, and then leave to play club rugby in France.
"If the salary cap is left to forbid the required investment, it will kill any hope of growth."