That won't work and the players won't and shouldn't go for it. Just like every other functional pro team, the cap and floor have to be within 10% of each other. But the owners know this is the only way it will work or get accepted, so I (possibly naively) have to think that the commissioner talking caps now, long before this possible lock out will happen, means they have come to terms with the NFL/NBA/NHL model.
The Yankees and Dodgers won't like it, but like what should have happened 30 years ago, there are enough middle and lower market teams to vote them down. Not that I think they'll have to because really, I think what the owners actually want is the expansion teams and the reported 2 Billion expansion fee per club. As much as they like to talk, they can't add two new markets that are smaller than the ones that are already crying poor. Not with the current media/revenue model. Raleigh? Salt Lake City? Those are AAA markets, the only reason they could possibly want them is because the league is drooling over the big, fat upfront payoff.
And a full revenue share of media rights isn't as big of a sacrifice as we'd think; it means way more to the small markets than the big ones. The last figures I see are that the Yankees made 143M from Yes Network in 2022, that's a lot, but only 20% of their overall revenue that year of 657M. So if there really will be 4B plus in expansion fee revenue, letting the big market teams take a bigger chunk of that pie in exchange for near-full media revenue sharing could offset some of that lost revenue, meanwhile despite their size, the newness of the expansion clubs are going to help buoy the overall media pool.