Take any NBA franchise in history. 120 Million, 8 starting position players, 6 pitchers, the rest 200k scrubs. Pick your players by their last names; then 6 and 6 average AAA by Last name and make up your team. Teams can play in any city their franchise did (i.e. Lakers could be in L.A. or Minnesota) or closest city.
Only 2 Teams per NBA Franchise, can be any player that is listed in Basketball-reference.com for your team.
120 Mil. Salary cap
8 position players
5 Million added after season starts to accomodate trades
40 Live for playoffs
16 Teams/24 if enough interest