Shorty
Boomer Boy
The value of a minor league team is at least partly based on the existence of an affiliation with a major league team and participation on a league organized by MLB. If major league baseball is terminating those franchise agreements, an arguement could be made that MLB owes the franchise holders some compensation.
In one view, this could be seen as "big corporation" pushing costs onto little guys. The proposed Dreamers League, playing without support from MLB would develop players who would then go into the official farm system teams.
They are not really franchise agreements. They are two to four year affiliation agreements called Player Development Contracts. Every four years or so there is a scramble as some minor league teams change affiliations when the PDC with their current major league team expires. All a big league club would have to do is wait until a PDC expires and not renew it.
Owners of minor league teams who are cut from the system could form independent leagues and still develop players and sell their contracts to big league teams.