That's an awesome idea. Unfortunately it would probably be abused somehow, but on the surface it seems like a great idea. Player stability has been a real issue in the CFL. There needs to be some incentive for teams to fix it. There's nothing worse than when a team releases a competent veteran, who may be on a bit of the downside of his career, but still very competent, because they can replace him with an unknown quantity signing who will make slightly less money but may perform at the level of the released veteran.
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