This is a pilot. If it works i will set up a longer running Progressive. 255 cap. There will be an initial draft in the first season. 25 rounds. single pick per person for the first ten rounds than 3 per person for the remaining. You will only be able to draft one instance of each player season. (There will be only one instance of the 1927 Ruth) . The results of the live draft will constitute your franchise. Each season you can add/drop up to five players. Each owner will announce the players they are dropping after the 120th game of the current season. These players will go back into the pool of available players. I will then create a list of players who cannot be drafted in the upcoming season. We will be able to draft for the five vacated slots immediately following the conclusion of the previous season using the team forums. . The draft order will be in reverse order of the teams w/l record. I know this is complicated, but would be fun if I was able to make it work.
The pilot run will last three seasons. We will play in the alt D format (12 teams). If the pilot is successful, I will take suggestions from the other members of the league on how it can be improved before we open up a new (private) league to more owners.

If a team drafts brilliantly, and ends up winning 130 games, why would they want to drop anyone ?
You should make it where each owner MUST drop 5 players.