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Players can be traded, but not recruited or be free agents
The two-year rule is there to protect the promoted team from having its roster pilfered by teams with more money. Imagine if the Calgary Stampeders were brought into the NFL, then the Dallas Cowboys could wave wads of cash and take anyone they wanted from the Stampeders roster. You'd see what little chances Calgary had of winning vanish in a cloud of signed contracts.
On the other hand, if the Stampeders wanted to trade someone, that indicates both sides were happy with the deal.
Promoted teams can trade players, cut players or sign new players. However, other teams can not offer players on promoted franchises a new contract until the promoted team has been in Tier One for two seasons.