Infuriated by the escalation in salaries over the past few seasons, Al-Fayed is asking for chairmen of the Premier League to back his campaign for clubs to receive a portion of the revenue generated by television rights.
Foreseeing it as one of the only options for clubs like Fulham to continue meeting wage demands, the 76-year-old says those in a position of authority need to 'wake up' and act now.
"How can it be right for top players to be earning £15-20 million a year?" Al-Fayed
"Our out goings increased by 17 per cent last month - it's crazy. These wages need to be capped but I worry that it won't happen because the Premier League and the FA are run by donkeys who don't understand business - who are dazzled by money.
"If the world wants to keep players in pocket for tens of thousands pounds every week then let the Premier League and the FA negotiate with Sky and other broadcasters for a share of the billions they make from our product - from my product.
"All around the world, football fans are paying to watch top matches on TV. And yet do most clubs see any of that money? No.
"I want to help other clubs. I speak my mind and other chairmen should too - they need to wake up from their coma and join me in this fight with the Premier League and the FA.
"They can have lunch with me at Harrods where I can serve them stag's testicles - we need big balls in this business."
Meanwhile, Al-Fayed has vehemently denied recent reports suggesting he is on the cusp of selling the club following a financial loss of £7.5 million.
Fulham are enjoying a superb season compared to this time last year when they were fighting for Premier League survival, and, angered by the report, Al-Fayed added: "I own the best club in the world, with the best team and the best fans. If anyone thinks I'm not committed to the game, or to Fulham, they're wrong.
"Any so-called expert who wants to say differently is an ignorant idiot. I have nurtured my club lovingly for nearly 12 years, and I don't plan to give it up. In fact, when have you ever known me to give up on anything?"