On AFL.com.au's Gillette Trade Radio Brayshaw called for the controversial 9.8 percent COLA given to the Sydney Swans and Greater Western Sydney to be removed.
"It needs to be abolished immediately. From 2014 onwards it can't exist," Brayshaw said.
The issue has reached boiling point after Hawthorn premiership star Lance Franklin told the Sydney Swans on Monday he wanted to join the club in 2014.
Clubs reacted furiously at the news, particularly after the club secured Kurt Tippett in 2012 just months after winning the premiership.
The Swans reportedly offered the 26-year-old free agent $10 million over nine years.
Brayshaw said he had no problem with Franklin or his manager Liam Pickering, but he did have an issue with the rule as it stood.
He said he could see no reason why the AFL should let any decision in relation to the COLA be affected by the terms of the Franklin deal.
"[I hope} that the AFL have got the strength to turn around and go 'regardless of what you are doing with that individual player's contract, this is what we're doing with your living allowance and we are not going to be budged on that'.
Brayshaw also says the priority pick should only be allocated if unforeseen circumstances occur, not because of mediocre performances on the field.
The AFL Commission rejected Melbourne's application for a priority pick in September.
Brayshaw said only a couple of changes in the current system were required to shift the situation towards a more level playing field.
"Under no circumstances will we ever reward on-field mediocrity with priority picks," Brayshaw said. "Every club from 2014 onwards has the same amount of money to spend on their players.
AFL Players’ Association boss Matt Finnis said it was appropriate the League scrutinise the deal.
"We require that any offer that was being made to a free agent had to be lodged with the AFL and that was to make sure that everything was above board," Finnis told 3AW.
"So it’s actually appropriate the AFL look at the offer and all of the terms. That's important to maintain the integrity of the free agency system."
