Free Agency Rules Proposal
1) Winning bids must stand for 48 hours to sign a player.
2) A maximum of 6 winning bids are allowed at a time.
3) No modifying of bids is allowed. An edited bid is an invalid transaction.
4) A major league contract automatically trumps a minor league or minor league veterans contract regardless of the value.
5) Sufficient salary cap room must be available prior to making a bid on a player. Money acquired through trade cannot be used until after the trade has been approved with a passing vote from the trade committee.
6) The minors Prospect Contract minimum PC bid is $50k. The initial raise on an opening bid must be doubled. Raises thereafter must be a minimum of $50k until the contract reaches $5m wherein contract minimum raises are $200k.
7) The minors Veterans Contract minimum VC bid is $500k. The minimum raise of a VC bid is $100k.

The Majors Contract minimum bid is $400k. The minimum raise of a MC bid is $500k until the bid reaches $50m wherein minimum contract raises are $2m.
9) Free Agent subject titles should include the player's name, position and team if available. The body of the thread should include a link to the player at milb.com or baseball-reference.com to avoid confusion.
10) Any available player may be signed to a minor league contract.
Players with 0-2 years experience receive an unlimited Prospect Contract.
Players with 3-5 years experience receive a 2 year Prospect Contract.
Players with 6+ years of experience receive a 1 year Veterans Contract.
*Normal Arbitration rules apply if a player is placed on the 40 man roster.
(Intentionally circumventing the spirit of the rules may lead to suspension if deemed necessary by the league moderators)
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I combined and condensed the General Free Agency Rules and the Bidding Guidelines. A rule has been added to prevent illegal bidding with insufficient funds. Owners should probably decide if they want the ability to retract contracts or if a suspension should be enforced for changing bids. The rule below has been removed.
5) No minor league player under the age of 23 may be offered a major league contract.
*Removing this rule will allow rebuilding teams to add top prospects to their expanded 40 man roster and let them develop rather than having established teams stockpile younger players for large signing bonuses.