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$100 million is pretty high. The suggestion other than one billion I've seen is nineteen times the default, which for modern era would be $190 million. Still, none of these will 'fix' anything NOW, just down the road.
I guess my best suggestion would be to try saving a copy of your league, then simming to the free agent period after season 8. If things are still bad (and especially if still bad in the same way), try posting back here, and I'll stay out of it. It might be depressing to contemplate, but the 'common wisdom' is that after five to eight seasons the league will rebalance itself, and from then on there'll be a few flush teams, a few bankrupt, and most in the middle.
I could be wrong, but I think what you're seeing has usually been reported after starting with a budgeted initial draft. A couple of people have said that nearly every team uses its full budget, and there's almost no money left for free agency for the first period. If that's your case, I'd expect it to correct much more quickly, like by the free agency period following the second season.
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