I've been toying with this idea for a while now and am curious to get some feedback on it. (And of course, if such a league already exists, I'm not interested reinventing the wheel, but I would like to join one in progress.)
The idea combines progressives, twists, and franchise leagues. Basically, each owner (I'm thinking 24, but could be persuaded otherwise) drafts an exclusive franchise (only one version of the Yankees in the league at any one time, etc).
Once the draft is completed, each owner chooses an initial year. So one owner may start with the 1920 Yankees, another may start with the 1915 Red Sox, a third with the 1991 Braves, etc. The owner then twists any player on that roster to make his year one team.
In year 2, the pre-twisted rosters advance by one year. So the 1920 Yankees become the 1921 Yankees. Again, the owner can twist the roster in order to make his team. Players could be twisted to the same version each season - so if the Yankees owner wants to use the 1927 Ruth, he can do so for any Yankees season from 1920-34. I've thought about blacklisting specific player-seasons once they are used, but I believe it's a lot of work for minimal benefit.
In order to make the league competitive, there would be a salary cap. I'm thinking 80M. There could also be below average AAA (6/2 or 6/4) to round out rosters in lean years. I think 80M should allow all 24 owners to field competitive teams in most years. Some teams will have a down year occasionally, but that makes your choice of team/year more strategic. Frankly the mid-20s Yankees probably look a lot less attractive because you can't load up on the best seasons of Babe and Lou each year.
After any season, an owner could choose to discard his team. Any owners who have done so would be able to draft a new franchise (and then pick a new starting season.) BUT - two huge caveats - franchises are still exclusive, and any previously used "franchise years" are blacklisted. So in the above example, if the Yankees owner were to discard his team after 1922, a new owner could choose the Yankees, but would have to start with a season that had not been used yet.
Thoughts on this idea? If I were to get it started, would you be interested in participating?