JTWood, interesting concept. That's a great idea for a league with a lot of beginners in it, but I don't think I would want that in an experts league.
There's a skill in getting someone to agree to a trade, and all of that hard work is for naught if afterwards someone else can swoop in and improve on your offer. That's a major advantage to the guys in first and second place too. If they see the third place owner about to land a deal, they can swoop in and take it from him or at least make him pay more.
I like it, but it definitely has its drawbacks. Still, a novel approach to a problem all leagues face.