I disagree, when a player signs a contract they should stick with the club for the length of that contract regardless of the league they are in
For me, contracts should be signed onn a sliding scale to account for differences in Salary cap.
For example a player will be on X amount if in tier 1, Y amount if the team gets relegated - that way then clubs can build for the future despite relegation and keep a squad together which can hopefuly push for promotion again the foloiwng year.
In my opinion this would prevent a mass exodus at the end of a season for the relegated team followed by panic buying - - Leigh for example when they got promoted - players like Darren Fleary who simply wasn't good enough.
If players cotracts become void because of relegation then the better players sign for top clubs whilst average ones for lesser clubs - think some players got relegated 3 yrs on the bounce from jumping ships,