$100 dollar cap.
Contract lengths would be determined by how much a player was signed for. Players could be kept as long as you want and you could free up their entire salary under the cap when you waive them. Each year of the players contract could be thought of as an option to pick up.
Contract lengths:
Any player you sign for less than $10 can be kept up to 3 years.
Any player you sign for $10 or more can be kept up to 5 years.
The only penalty for wiaving a player before the years on his contract expire would be that you could only keep him for one year, the current year, if you resigned him within 12 months of waiving him. The reward for keeping a player for the entire length of his contract would be that you would have restricted free agent rights when he becomes a free agent. You would have the right to match any high offer on the auction board instead of needing to increase the minimum bid by a dollar.
If this system sounds like a good foundation for a cap league, let me know and lets see if we can't get a league like this going. I like this system because it's simple, but realistic enough to give us a taste of what it's like to run a real MLB team.
my email:
gengelhorn70@gmail.com