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The four major sports could all benefit from contraction. They have all become watered down.
After re-evaluating I like the 20 team idea. Play each team in your division 8 times (32 games), other teams in the conference 6 times (30 games), other conference teams 2 times (20 games) for a 82 game season. Taking more of the financials into account this is what my divisions would look like. The five new Canadien cities would be transfers of the 5 best existing U.S. franchise that won't make the cut. The contraction draft would occur in a similar fashion to the regular draft, all existing remaining contracts would remain so it would be up to teams to determine if a player is worth it at their existing contract.Canada EastTorontoMontrealOttawaQuebecHamiltonCanada WestVancouverCalgaryWinnipegEdmontonVictoria or Regina or SaskatoonUSA EastBostonNY RangersBuffaloPhilladelphiaPittsburghUSA WestDetroitMinneapolisDallasDenverChicago