[IatricSB]

At the risk of repeating myself, nothing is finalized and I'm glad to see everyone give their input/ideas. I was just hoping to find a way where good owners are rewarded for good decisions (and being the first to recognize talent) and not just rewarded by being lucky and being given a better team.

I'm not confident a draft is the way to go either. When I first thought of the league, I thought it would be one with a determined ending. In other words, instead of just going forever and ever, have the owners commit to some kind of league length like 5 or 10 years (or whatever) then "crown" the GM of GMs at that time. Because of this, drafting the best team would give an owner a huge advantage (plus some owners prefer to draft young and would not win for a while unless the league lasts longer). I could be wrong though, but I've never liked dispersal drafts because of the length of time it takes.

However I'm open to all suggestions. So in addition to deciding what type of league it is (similar teams, fictional, whatever else that may apply), the length of the league should be also decided (5 yr commitment, 10 yr, indefinite with owners being replaced if/when they drop out, other, etc).