This will be the 10th year of our primarily Chicago-based 12 team NL Only 5x5 auction league, which is a redraft league with no keepers -- giving everyone a clean slate and fair shot each year to win.
Entrance Fee is $300 which includes all transactions. We use the standard $260 budget for the auction, standard 5x5 categories, and standard 14 hitters, 9 pitchers roster makeup. Weekly pickups are done via a confidential CBS Sportsline automated FAAB system. Trades are subject to league vote such that the vast majority (98%+) are approved, but if the majority of non-involved teams view the trade as way too one-sided it will be rejected (has only happend 2-3 times in 9 years).
Generally, first place gets half the cash, second gets approx 30%, and the remaning 20% is split between 3rd (which gets at least his money back) and a weekly winner prize pool (based on 5x5 performance for each week standing alone) that: (1) keeps interest high throughout the season; and (2) makes it rare that any team loses the entire $300 entrance fee (in part because 1st and 2nd place overall finishers do not participate in weekly winners pot). All money ($3600) except the CBS Sportsline Commish league fee (approx 160 bucks) is paid out each year.
The live in-person auction is in Chicago (this year on Saturday 4/2 starting at 9 AM Central), but those people from NY and elsewhere (people have moved throughout the years) call in to a toll-free number to participate live as well. Thus, while being close to Chicago is ideal, it is not 100% necessary as many people (former league champs included) have participated in the auction via teleconference. It runs pretty smoothly and we are typically done by early to mid afternoon.
The league consists primarily of professionals: lawyers, businessmen, etc, but all are welcome. But for the new league member, it is always good to know that the treasurer is a verifiable member of a respected professional community. This is also a good networking opportunity. All that -- and a 9 year track record. We likely have 1-2 openings. If interested, please email me at firstname.lastname@example.org
. I can send you a link to the entire rules and can give you more info.
Thanks for looking.