Quick question, if I'm a current owner who wants to completely reset my budget with my current team, if I don't go into the rollover as owner, then get the same team after roller has completed, will it give me the option of re-starting my budget as if I was new owner?

Nope

I want to promote a AAA pitcher to the Majors. Howver, I could not do so because doing so would exceed the salary cap. How do I modify the salary cap to allow the promotion?

There are three things you could do:

1. If you still have money in your prospect or coaching budgets, you could transfer some of that into your player budget. But you lose half of the money that you transfer.
2. You could trade one of your higher salary players for a lower salary player, thus giving you more free $$$ to work with.
3. You could try waiving a player and hope someone claims him.