I've thought up my own version of a minor league football season, but it's a bit long and complicated.
I had an idea of an 8-team league with a season from late September to early December. They play their games on Wednesday afternoons to be broadcast over the internet. Each team represents each division. And each team in a division has to relegate 10 players on their September 1st cuts to the minor league team (that's 40 players). The coach/GM then has 10 open spots to fill out the roster and positions. The players are all paid $15,000.00 per game. No inactives. 50 players per team. They play 10 weeks.
Teams can call up their own players, but have to pay a fee.
Since teams have 5 home games and 5 away games, FOUR of the home games have to be played one on each stadium in that division. So the AFC North team, which has 10 players relegated after cuts from BAL, PIT, CIN, CLE and 10 other players plays one home game in each of those cities. And one extra home game wherever is convenient. Think if the games as "Business Man's Specials" on Wednesday afternoons. Very cheap. $10 tickets. $5 beers. Free parking. Open seating (sit wherever is open).
Since the games are televised on the internet the league can experiment a LOT with how to present the game on an internet platform (which is where this game is headed anyhow). This is an opportunity for them to get the kinks out of multiple cameras, letting fans replay their own plays, etc.
In addition, the coaching and player evaluation is VERY open. Coaches' grades of their players are public on Thursday/Friday. Game plans are made available after the fact. Coaches talk openingly about the behind the scenes parts of the game.
I think fans would be invested since each team "owns" 10 of the players and gets a good look at the talent of their division rivals as well.
I actually think something like this could be done for about $5 million/club and there might be some internet revenue and ticket revenue as well.