Every team starts out with 360 million dollars. Each year thereafter, an additional 120 is added to each teams account. Years are decided by how much you pay a player. In this league, you will pay a player up front for his entire contract using a scale kind of like this. The league may allow fractional numbers, like 0.4 or 5.2, but I won't use fractions here for simplicity's sake:
$$ = Years
1-6 = 1
7-19 = 2
19-38 = 3
39-80 = 4
81-99 = 5
100 up = 6
As you can see, multiple year contracts will allow you to save some of the 120 dollars that is added to your cash reserves each off season. You can save extra cash in anticipation of a big free agent who's going to hit the market in 1 or 2 years. If you really like a player, you may be saving up for several years for the opportunity to outbid everyone for him.
As for Minor League players:
They would be free until the first season they enter in which they no longer have minor league status. You could keep your minor league products for the next four years using the following scale:
Year = $$
1 = 1
2 = 3
3 = 5
4 = 8
After that, they would finally become free agents.
Supplimental Drafts
I would like to run the in season drafts through Scoresheet like normal using their web based drafting system. The players we get in these drafts would be free and would become automatic free agents at the end of the year. If any of these draft picks are minor league players, they will be added to our minor league system and follow the minor league contract rules.
I'm still hoping to get a few guys together. I would like this league to be made up of AL and NL players. I think it would be easier that way. We could even go with less than 12 teams if needed. Every player does't have to be drafted, so I have no problem starting the league out with as little as 8 teams with expansion as a possibility down the road. So let me know if any of you would be interested!