Is there a way to clear cap penalties?
 

If you somehow get yourself in a really awful game-destroying cap penalty situation, is there any way to clear your penalties in your game? I thought I remembered some way to do it in previous versions, but I could be mistaken.

The best way to do it is to stop dumping players for a 2 seasons. Sign a bunch of UDFA to minimum deals and wait it out.

Other than that, I don't think there is any way to edit the cap without being the commissioner of a multiplayer league.