It should be a 14 team league with some sort of franchising, but with a different emphasis.
Last time, with the three-yearly re-appraisal, it was all about who would be chucked out. The emphasis should be on "inclusion", not "exclusion"; that is, if a club can justify it's inclusion, work out how to accommodate it rather than working out who to chuck out to make room for them.
This can be done via a conference system or whatever, but it accommodates expansion whilst not closing the door on heritage clubs.
The only dilemmas are funding (how to spread the cost without cutting club income) and how to maintain supporter interest for those teams out of the play-off hunt.
But that's why we have vibrant and forward-thinking administrators, to work out new TV deals in those markets where the expansion clubs would play, like North America and continental Europe, or other media revenue streams.
Oh, hang on, I realised I was doing well until I got to the last sentence .....
