I want to see a created team at least be able to swap out with a current team. And not just 1 or 2...How about for an entire league?
And/or maybe be able to create an expansion team and draft from the current teams players they don't protect from the expansion draft. All-Star baseball had this feature at one time.
Being able to relocate your team and rename them. Someone might want to move the SF Giants back to NY or the Dodgers back to Brooklyn.
Also, edit what teams are in what divisions. Maybe even just create a 12 team franchise if you wanted. Baseball Pro had this and you could have as little as an 8 team league or 3 leagues with a total of 48 teams (16 teams per league)
3 team trades
I'm sure I can think of more later.