It bore all the hallmarks of the unveiling of a marquee, yet Sydney FC didn't dare mention the "M word". Beneath the backdrop of the harbour bridge on Friday, Kosta Barbarouses was presented as Sydney FC's newest signing at a press conference at the Opera House, flanked by the club's coach and chief executive.

There, they announced the signing of the former Melbourne Victory star on a three-year contract as first reported by The Sydney Morning Herald on Wednesday, with the value of the deal giving some insight to the grandeur of the occasion. The club won't reveal but sources suggest Barbarouses is set to earn about $750,000 per-season.

New icon: Kosta Barbarouses at his unveiling as a Sydney FC signing AAP

In any other year, it is a deal reserved only for marquee players paid outside of the salary cap. However, two hours after Barbarouses' unveiling at the Opera House, adjustments to salary cap regulations were announced that could allow Sydney FC's prize recruit to fit inside of $3.2 million cap next season, enabling the Sky Blues to sign another two high-profile marquees.

The reigning champions could benefit more than any other club by the relaxation of certain restrictions next season and potentially build one of the strongest squads ever assembled in the A-League.

Football Federation Australia and the Australian players' union, The PFA, announced the extension of the current collective bargaining agreement which includes significant relaxation around loyalty player payments and homegrown talent, exempt from the salary cap.

"We’ve also taken steps toward simplifying the operation of the salary cap and addressing concerns about player churn," PFA chief John Didulica said. "We are also incentivising clubs to retain existing talent through removing caps on categories such as loyalty players and homegrown players.”

Previously capped at $200,000, there is no longer a limit on the number of players who can benefit from loyalty concessions. It means Sydney FC's squad consistency that has delivered them five trophies over the past four seasons is set to deliver the club a fortune in cap exemptions.

The long service of six international players will now save the club close to $500,000 in wages that count towards their salary cap, according to club sources.

Andrew Redmayne, Michael Zullo and Alex Wilkinson will have 20 per cent of their salaries exempt from the salary cap as they enter their fourth continuous seasons with the club. The Sky Blues will be able to have a quarter of Brandon O'Neill's and Milos Ninkovic's salaries not included in the cap as they enter their fifth season at Sydney, while half of Rhyan Grant's deal does not count towards the cap as he has played more than 10 seasons with the club. Youngsters Luke Ivanovic and Joel King are also exempt from the cap as homegrown players.

The club has two free marquee spots after the departure of Siem de Jong, and Ninkovic moving back into the salary cap on a reduced deal this season. The Sky Blues still have the option to register Barbarouses as a marquee should they choose not to take full advantage of those cap concessions.