Ultimately, leagues can do whatever they want, but I think FAAB and waivers are the cleanest and fairest solution. Here's why.
Managers Have Known This Was a Possibility
This isn't a situation that appeared out of nowhere. Back in early May, reports surfaced that if Sorsby couldn't regain NCAA eligibility, entering the NFL Supplemental Draft was a realistic possibility. That means dynasty managers have already had months to prepare.
The Supplemental Draft will likely take place in late July, which still gives managers additional time to make moves before anything becomes official. If you believe Sorsby is worth targeting, you can start preparing right now. This isn't much different than other situations we've seen before. When the Steelers signed Hakeem Butler out of the UFL, managers immediately started checking waivers to see if he was available. Nobody argued he should wait until the next rookie draft. The difference here is that Brendan Sorsby is a significantly better prospect. The concept is still the same. A player enters the NFL player pool and becomes available to fantasy managers.
FAAB Is Part of Dynasty Strategy
One of the biggest arguments I hear about this is that waivers create too much luck. I don't really buy that argument. In my leagues, managers receive $100 of offseason FAAB and then reset to $100 once the regular season begins. If Sorsby hits waivers, the manager who values him the most can position themselves to acquire him:
• Trade for FAAB.
• Save FAAB.
• Include FAAB in deals.
Plan ahead.