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I actually found out how this would work accidentally. I attempted to set up a Chinese league to bring baseball to China. I had no idea what I was doing and set it up as a major league instead of an international league and didn't adjust the financial settings and gave it a 10 prestige. I also had set China to excellent player status in the world settings.
When the league started all the teams had insane budgets especially in huge cities like Beijing (due to the market size being astronomical) to where they could offer up more money to MLB free agents than most MLB teams could.
I had to set the settings to not allow foreign players as I slowly bring the leagues financials inline with KBO and Nippon numbers.
But if you start a league and the teams have the budgets and have access to the free agent pool they will sign players from MLB.
Realistically though you wont, be able to compete with MLB, unless you start a historic season and start your league before the free agency boom, and build their financials up organically that way when the boom hits you can compete with the MLB for top tier talent.
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