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#1 point here is exactly right. Give the local population the right to determine how much money is flowing into the coffers of the team. Only thing that would need to be slightly regulated is the amount of dollars per seat that could be charged.
 
No expansion. Seen what that does to the NHL/CFL (yeah, yeah, I'm Canadian...CFL is not particularly good football, IMO, but the worst thing about it is, the league for a time, was run by fools).
 
Agree on the extra layer of playoffs with an extra wildcard, and a 3 game series. Not sure exactly whose idea it was initially, but heard the idea floated of a 3 game series, starting immediately after the season is over (i.e. the Monday), and running 3 consecutive days - no offdays, even for travel - really puts the wildcard teams at a potential disadvantage, and really makes winning the division paramount. The Wildcard series ends on Wednesday, the first division series (the one that doesn't have a wildcard) starts on Thursday, and then things carry on as they do now from there. The playoffs are delayed in total by exactly 1 day...no big deal.