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I don't know it will work but this may give it a shot.
1. delete all players in the new league.
2. Set PCMs to 70% of the old league.
3. Set financials to 70% of the old league.
4. Fill all new league teams with fictional players.
5. assign fictional contracts to players and coaches
6. Assgin fictional finances to all teams.
The PCMs will make sure the players created for the new league are 70% as good as the original league. There is no guarantee the original league won't poach these players for their minors though.
Dr. Park III posted sometime back is that the only way the game differentiates between major leagues is financials. So it will take some tweaking to make sure league 2 doesn't poach league 1 players. He suggest 10% financials for indies. Granted that was for rookie to AAA. What you are going after is more like A level indie league. You could download his world of baseball 11 for some ideas on financials. He has done a lot of work to make indie leagues operate at such.
Sadly this is more art than formula. Finances and PCMs are important. Even if the finances are right the league will generate players at league 1 level inflating your quality if you don't lower the PCMs (traditional not SABR).
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