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I don't think there is a way to cancel them, even in commish mode. Someone might come in with an answer though.
It's a minor league contract, so no real harm done. Some will accept, and you can just release them with no financial consequences if you don't want them in your system. Others will have a note by them on the pending offers screen in a few days indicating that they don't want a minor league contract. If you just do nothing, there will be no consequences from this either. If it happens to be a free agent that you do want, then you can simply offer them a major league contract.
The whole affair will be some extra work and clog up your transactions screen, but otherwise your league should be fine. I don't think your reputation will take a hit from offering minor league contracts, or from releasing players from minor league contracts.
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