Complex sentence: Starting this season, the teams will now offer annual contracts, instead of per-conference agreements to their players that will compel them to play only for their PSL clubs and preventing play in non-sanctioned leagues including the Shakey's V-League.
Split into simpler sentences: Starting this season, the teams will offer annual contracts, instead of per-conference agreements with their players. The annual contracts will require them to play only for their PSL clubs and will not allow play in non-sanctioned leagues, including the rival Shakey's V-League.