to make things a little more interesting and advanced, we should consider "offer sheets"...
how it works:*Eligibility: Offer Sheets can only be submitted for players with an expiring Rookie Contract
(thus the need to designate/differentiate these rookie contracts from regular contracts).*Mechanics:
- The team that owns the expiring rc contract posts an extension.
- Any of the other 29 teams wanting to counter that extension
(due to the player's value, position scarcity, or they just love that player, etc.)
can post a counter offer of > value
- limit the offer sheet window
- exclusive extensive period for expiring rc contracts to handle this
- proposed rules around "offer sheeting" can be similar to NHL
EX.
For 2011, a team signing a restricted free agent to a contract worth more than $7,835,219 per season loses four first-round picks to the player's old team.
For a contract worth $6,268,176 or more per year, the acquiring team gives up two first-round picks, one second rounder, and one third.
There are another four levels of compensation, going down to a contract worth up to $1,034,249 per year, for which there is no compensation.
EX. in FNHL, offer sheet over $X Million = compensation of 1st + 2nd round picks or 1 player off opposing team's roster. etc.
more details TBD.
WHY Offer Sheets to expiring RC contracts:- additional strategy in cap league
- teams must offer decent value to high-end young guns exiting a "preferred contract" aka their rc contract.
- add new level of risk to contracts for in-demand players team would want to build a team around (ie... would someone offer sheet RNH, likely... how about Tuukka Rask or Brad Marchand, likely yeah!)
- in a 30 team league where players/assets can be scarce, this is another way for player movement (in addition to trades, FA, buyouts, etc.)
* Needs more fleshing out but that's the prelim. suggestion in a nutshell! 
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