SEASON 4 ANNOUNCEMENT1. Teams, aside from their managers, will have their rosters
completely wiped.
2. Each team will have 100 fake dollars with which to pay player salaries (plus or minus any fake money gained or lost in trades).
3. There will be an auction held for the first 36 players. Each team must come away with exactly three players from this auction. The minimum salary of a player purchased at auction is 1 fake dollar. At the conclusion of the auction, each team must leave at least 4 dollars remaining so they may complete rounds 4 through 7 of the draft (unless they want to pick up undrafted players after the draft ends. In that case, they can pass on the draft and pick up the remaining players for free). To reiterate, teams will have a maximum of 96 fake dollars to spend on exactly three players in this auction if they wish to be able to participate in the final 4 rounds of the draft.
4. Rounds 4-7 will be conducted in standard serpentine style; order will be picked at random. Each player selected in rounds 4 through 7 will be given a salary of 1 fake dollar.
5. Free agents that emerge as the season progresses will be subject to a silent auction. If teams have already expended their 100 fake dollars, they will not be able to bid on free agents. If managers want to be able to bid on free agents throughout the season, they will need to have money under the cap to do so.
6. Releasing a player does not remove his/her salary from a team's budget. There will be a waiver period of two days on dropped players. If a player is claimed on waivers, the claiming team must pay the salary of that player. That is the only case in which a player's salary can be removed from his original team (other than a trade). After two days, the player becomes a free agent, and he/she is subject to a silent auction. This FA period lasts 24 hours. The original team is on the hook for the player's original salary, minus whatever his new contract with his new team is. If no bids are submitted, the player becomes free to pick up for zero dollars.
7. The only free players are free agents (including released players) who clear waivers AND make it past the 24-hour waiting period.
8. Trades putting teams over their fake dollar budget are not allowed.
Season Five ANNOUNCEMENT
Addendum: The most money a team can carry over from one season to the next is $20.