Also, I'd be rather hesitant to join a league in which only the winner can make money, seeing how much luck is involved in the playoffs.
8 x 30 teams = $240. In the rules it says $200 is awarded, and on the front page $150. So colour me confused.
Anyway, I would recommend a setup more like this...
Winner: $150
World Series loser: $50
other teams in the playoffs: $10
....and forget about free seasons. These people already have great teams, they don't really need incentive to return. They already have a wad of cash and a monetary incentive for next season.
Simple economics dictate that if you want to give away free seasons, do so to the teams that look hopeless to get the owner back for another year, if he's willing to pay for 2 seasons after that. In this way the crappy teams keep ownership, since there's a financial incentive.
Anyway, just my two cents on this. Also I would think that there should be some sort of monitor on trades (commish, as he'd be unbiased) to ensure that someone isn't controlling two teams - also a big problem in money leagues.
That being said, something I'd really like to do (although I'm not suggesting it for more league, as it's a whole other concept with money entirely) is make people pay for their payroll, and put that money into a pot to be distributed. I know my league's overall salary is somwhere around 2 billion dollars, so if every $100K a team spent cost them a cent or something like that, it provides incentive to carry a cheaper team, however it's usually the more expensive players who are the good ones, so you'd actually have to evaluate in a whole new light how much a player is worth to you rather than if you can afford it in your "budget"