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I've set up two two fictional leagues and have run into a very similar issue to you. Here is what you can expect, what you can fix, and what you can change.
First off there is an option for the inaugural league draft to use budgets based on city size. Your bigger markets will have a leg up on competition this way.
However even with adjusted budgets right from the inaugural draft I believe all the clubs draft to have the best team possible. Which means the small market teams draft above their allocated budgets.
In both fictional leagues I've created many teams had blown their budget after the inaugural draft. You can fix this by editing the budget of those teams. Be aware the game is going to balance itself, even if you inflate a city's budget expect that budget to shrink if its a small market city.
My suggestion is to simply let the game balance itself, it will take 2-3 seasons. But eventually the big market teams will see its budget expand, the small market teams will dump, trade, and lose all of its star players.
If you're looking for a desperate quick fix, then go edit the financials of the clubs in question. If you increase its market size and fan interest the larger budgets you give them should stick. (I haven't tested this)
I find it strange that New York has small market size, in both my leagues New York had a market size of Astronomical by default.
Final note, In both my leagues Boston has average market sizes and does not compete with the big dogs. OOTP deals with city sizes in an interesting fashion, in a way its very literal. Boston itself is only 600'000 people, OOTP would treat it the same as Quebec, Winnipeg in Canada, or Memphis and Las Vegas etc etc. Boston's Metro area is massive, so if you want to account for this and make it more realistic then absolutely change those values manually.
Hope this was helpful.
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