I've been floating this idea in my head for a while and am wondering if it could legitimately work or not.
The idea is for a dynasty league, but instead of drafting players you'd be drafting colleges. With every college you drafted you would retain the rights to any current and future players that went to that school. So if you drafted USC, you would get Carson Palmer, Reggie Bush, Matt Leinart, Troy Polamalu, etc. Also in future years if a player from USC enters the NFL, you would have the option of using them as well.
This would put a twist on draft strategies for sure. If you wanted LaDainian Tomlinson you would have to draft TCU, which may not have as many viable players as another school.
Trading would work in that you could only trade one college for another. So you could swap Michigan for Miami, Oklahoma for Penn State, and such.
The one major kink I see is all the small school alumni (D-IAA and smaller). There would need to be some stipulation worked out with that. Perhaps a supplemental draft for those players and a rule limiting how many non D-IA guys you could have.
So does anyone have thoughts on this? Is it even viable, or is this just some hair-brained scheme of concocted here?

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