We have a live-in experiment and example of what happens in professionals sports with no draft: the English Premier league. In England's premier soccer league, the most talented players pool at the top 4 or 5 biggest clubs vying for the spot on a team, even when there are no sports available. These young uber talented professionals would rather wait years and fighting for a spot at Arsenal, Man Utd, Liverpool, Chelsea, etc than ever "relegate" to the next best teams in the premier league. This is what would happen in OP"s example: less parity, more talent consolidation and a less entertaining league. The draft and the suits random doling out players to the worst clubs first is the best option for fans. Players already get millionaires to bounce a ball; I'm not in favor of giving them the privilege to make the league less competitive.