Might as well collect money on low salaries until i can contend legitimately.
That is the wrong attitude.
You should focus on your primary income, which is your Arena. The prize money for winning a league/relegating is usually less than two or three home games (you have almost 1 per week). Which means you should build it up and focus on your fans. Get a PR Manager who is Advanced or better, and focus on filling and building seats (and view Fan Survey). If you see a sudden drop in attendance, it could be your season/team (fans upset), the opponent, or your arena prices. I try to avoid dropping my rates and sneaking $2-$5 ticket raises per season.
If you are building players by training, try to keep at least 1 of your trainees on your team and never trade him. He will improve your merchandise income.