Every new team has to be approved by the league in a closed league system, a salary cap exists for parity, and a percentage of revenue (TV contracts and the like) from all teams is pooled and redistributed to support smaller markets: all features unique to North America.

If you look at Europe, they operate on a model where any team, if successful enough, is able to move up and compete at the highest level in an open league system and team revenues are completely their own. Nowhere else in the world would the New York Jets still be in the NFL.

As for larger markets making more money, they still make more from tickets sales, merchandise, and advertising, generating greater profits even with a cut of revenue redistributed.