1. Create a new game, and import players from an historic database (Lahman or Arod-Garlon). It will also import real world teams and league, but don't worry about that now.
2. Before you start the game, under league setup / options (or maybe it's rules) be sure to select to use an inaugural draft.
3. Start the game, but do not do the draft yet. NOW you can edit the league structure however you want: change the names of the teams, delete some, add some, add divisions, ...create the fictional league you want. Logos, team colors, the works. There are some subtle issues, such as the schedule, but it's all do-able.
4. Now do your inaugural draft.
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