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Could American Fans accept a system like the ones used in European soccer?
In the English Premiere League there are 20 teams. At the end of each season, the bottom three teams are relegated to the 2nd tier league, the Football League Championship. The teams that finish fourth and fifth to last play a one-game playoff, for which the loser also suffers relegation. The top three teams from the Football League advance to the Premiere League for the next season, while the fourth and fifth place team play a one-game playoff to also advance.
There is no real playoff system. The team that wins the league is declared the champion. The top four teams do advance to play in the European Championship. Baseball could either keep this winner take all format or play a playoff with the top two or four teams.
Baseball could adapt a system like this. It could have two divisions of 15 teams or three divisions of 10 teams each.
With the threat of regulation, every game matters—even for the second or third division teams. Teams will not want to fall into the second division, and teams in the second division need to play hard all year to make it into the first division.
In essence you still have three pennant races: The teams at the top of the first division, the teams at the bottom of the first division trying to stave off relegation and the teams at the top of the second division trying to advance to the first division. If you had three divisions, you'd have five races.
The best teams are rewarded by playing in the first division, and the ones who can’t keep up are relegated.
Because the best teams are in the first division, the likelihood for a close race at the top is increased.
There's a distinct motivation to succeed and not just get buy. Getting to the first division means better teams coming to town, a chance for the playoffs and thus more fan interest and revenue.
Teams in the second or third division obviously have no chance to win the league title.
There would likely be a rotating, unbalanced schedule. You play the teams in your division twice as much as you do the teams in the other division. As a result, rivalries could suffer.
The American and National League, which have existed together since 1900, are no more.
One group of people is going to be unhappy because the DH is either going to become universal or disappear completely.
If you sink to the bottom of the second or third division it might be hard to generate fan interest.
Obviously this is a foreign concept for most American sports fans. It might put off the casual fan and take time for others to adjust to it.