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What might work better would be that teams pay into a draft bank. The bank receive money in a progressive format where teams that take in more money than others pay more to it. Each team is allotted 35 slots and those slots have a cost fixed to them that decrease.
For instance:
1 slot at 5MM
1 slot at 2.5MM
1 slot at 1MM
1 slot at 0.5MM
1 slot at 0.3MM
15 slots at 0.05MM
15 slots at 0.015MM
Players can sign with any team and if a player exceeds the slot in terms of MLB performance, MLB pays dividends out to the players until they reach arbitration.
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Washington Nationals Team Analyst
Co-founder, Camden Depot
http://www.camdendepot.com/
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