• $100m salary cap
• Draft: We draft to fill our rosters - if there are three openings, we draft three players.  Following the draft we have a two-phase add/drop period.  In the first add/drop phase we can drop any player (except for those drafted that year.)  In the second add/drop phase we may only drop players with a salary of $1.5m or less.  Any violation results in a penalty imposed in the coming draft, namely, you are forced to draft last in the first round you draft in the coming draft.
• Trades: All in-season trades, even those involving no player on either teams active roster (ie draft picks, players on the disabled list, etc.), must be made through the general managers’ office and submit to the usual approval/veto process. It takes six vetoes to nullify a trade.
• Lottery: The five teams with the fewest wins at the transaction deadline (120-games) will be eligible for a lottery for the upcoming draft. Must win 30 by 120 to qualify for lottery. The team with the fewest wins of all will have a 50% chance of getting the first pick, the team with the next fewest wins 25%, then 13%, 7%, 6% for the remaining teams. For all teams head-to-head competition will determine draft placing, followed by scoring in head-to-head games.
• Disputes: In the event of a dispute where there is no operative rule or guideline, or if their interpretation is unclear, the commissioner will make a ruling.  If three or more owners object to the ruling, the commissioner’s view does not stand and the issue is brought to all the owners through a vote which will be notified to all owners through a sitemail.
• Rules Change: These can be discussed at any time.  The first owner to want a rule change should start a thread and we’ll use that going forward to discuss any changes.  However, in order to protect owners from having to vote constantly or on frivolous issues, a proposal to make, modify or eliminate a rule must be seconded by three or more owners in addition to the proposing owner before it can be voted on.
• Voting: Each owner gets one vote.  Majority rules on all votes.  Majority mean the majority of owners who vote, not the majority of owners.  However there must be at least 14 votes cast on any issue for the vote to be valid.  The commissioner does not vote unless there is a tie; then he/she is the deciding vote.  The commissioner does however set the time deadline within which the voting must take place.

LOTTERY RESULTS

Posted by chrisekeedei on 6/25/2010 7:01:00 PM (view original):
Hey sheller, count me in. Can't resist a first pick.