Town chairman David Sheepshanks says that the Blues would have difficulty implementing the new 60% wage-cap if it were introduced quickly.
Town chief executive Derek Bowden was present at the meeting held at the Kassam Stadium, Oxford yesterday where the 72 Football League clubs agreed to introduce the cap.
Sheepshanks says more detail needs to be thrashed out before the cap is introduced: "A lot more discussion needs to take place and more thought into capping relegated clubs would need to be given.
"But we agreed with the general principle of the idea and that a working party should look into it."
Last year's accounts show that Town's wage-bill made up 64.7% of turnover, this year it will be even higher due to the massive drop in income caused by relegation. The same is likely to be the case for the next year unless the Blues are promoted or a number of the higher earners are taken off the books.
There are plans for a working party to meet to discuss the various issues relating to the proposal further. How clubs relegated from the Premiership might be treated is one element for discussion and one which Town will have a strong interest in.