OLC is similar to an open league except you are not awarded the 3 rookies but you get an extra $4M to complete your team. This allows you to build your own team without being at the mercy of WIS to provide the positions, strengths and minutes of the 3 rooks. This league has been very popular and fills rather quickly.
As an added incentive, you might try your skills at beating one owner who, after 4 separate teams, has a winning percentage of 80%+ in this league. I assume he is coming back.
No rooks or clones. Waiver wire ok.