Works for some... not for all. And if a player is on a longer term contract, AND is a name, then other things add up to extra motivation. For some it's notoriety, for others it's team.
However, the CFL gives less job security so it may not even be the amount of money that's the key motivator as much as just keeping a job. But, my point is about the cohesion that makes a team work better. There are always several ways to do a job. Sometimes you can look better by making it harder for your teammate to do his or her job while you might ALSO do your job better by helping the other.
Motivation studies look at choices like this. They also consider why someone might stretch themselves... even dangerously... while another won't. Some people do it for "team".
I work hard at building cohesion on my team at work because we accomplish things, share ideas and do things better, help each other, and the sum of the whole is greater than that of the parts.