Just to play devil's advocate a little; are we really sure that much will change in football over the next few years?
If we put aside Covid-19, lockdown, social distancing etc. in its current iteration (I know that is a fairly big ask), once we have a new normal, why would income/expenditure for most clubs be very much different from 5 months ago? Granted, many will have taken a big hit to cash flow and maybe for some an insurmountable one, but for those who ride the storm, why would they be any further than one big player sale or a decent cup run away from being on the up again.
Can anyone really see a future 12 months down the line where stadium capacity is halved because we have to sit 1 metre apart. I certainly can't. I can only see football, in the not too distant future, returning to pretty much what it was before.
If that is the case, then why will player's wages fall in the medium term? In my opinion, they won't. At least they won't unless clubs chose to set a reasonable budget and stick to it. This has always been within their power to do (Accrington and Arsenal do it), but the people involved in running clubs get carried away with the 'potential' and the 'glory' and reach with their wallets (and overdrafts) for the next star.
What has fundamentally changed about the economics of the world and of football? Not much as far as I can see. There is a cash-flow contraction and a build up of debt (otherwise known as a recession), as there has been numerous times in the past, but none of the previous contractions changed the way football clubs behaved, so why should this one?
Unfortunately, being a well run, solvent club hasn't proved to equate to prolonged success on the pitch, so it hasn't spread as a model to follow for those whose primary reason to be involved in football at all, is to be associated with success.
I think player wages are likely to continue to be strongly linked with club income and the repercussions of Covid-19 are not necessarily destined to change that.