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Promotion/Relegation is definitely a cool addition, but it's such an alien concept to American sports and most American sports fans in general.
Can you imagine, for example, someone buying the Yankees for $3.5 billion, followed immediately by them having a crummy year and ending up in last place and then being "relegated" to AAA for the following season, where they would play such prestigious teams like the Syracuse Chiefs, Rochester Red Wings, and the Las Vegas 51s? Ticket sales would plummet, the fans would riot, and the owner's new $3.5 billion dollar toy would probably end up depreciating in value by 250%.
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"If you don't know where you are going, you'll wind up someplace else." - Lawrence Peter Berra
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