It is working well, I still have 11m.
I believe it's all about not paying 876k salaries in a season when the chances of winning titles are almost null.
Most of the league is in more than 800k salaries, meaning no or almost no profit. Only Fab is close to the salary floor, which is the wisest option if you're not competing for titles. It doesn't matter if you get relegated or promote when you're making 3-4m per season... Sooner or later you'll be on the top.