I, personally, have never been a fan of contract-style keeper leagues. They are more realistic, as poorly thought out contracts do have prohibitive consequences... but I feel that it becomes a litte bit too extreme. Part of the fun of keeper leagues is taking flyers on prospects, sleepers, and the like - contracts prevent that.
If you raised the keepers to four or five with max contracts of two that would provide for more fun and thought and strategy, in my opinion. Ideally, though, I wouldn't use contracts.
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