We're a Keeper league that runs roughly the AL + NL east.
As a keeper league we want people to stick around. So everyone puts down a deposit for the following year so any team that you take over already has 2013 paid for and you would be putting down the $ for the 2014 season. So you would pay $100 (the 2014 deposit) and get to play for the 2013 season and, if for some reason you didn't return in 2014, you could play until a replacement owner is found.
After paying for CBS fantasy service all money goes to prize money with the split for top 5 being:
There are 13 teams in the league right now.
I'm only to accept owners after I can determine they are not dead weight. After that it will be a lottery to determine who gets to take over which teams. I think there are 2 teams that need new owners right now.
Here are the rules: https://docs.google.com/document/d/1ZfORNk-587A61T-Ia5jPG9JwC8CxftkqBGaJIKtYVXc/edit?usp=sharing
Draft date hasn't been set but it will be mid march 2013. Usually about 50% of the players are kept each year. You would get to make keeper decisions before the draft of course. Draft is online but if you're local to southwestern ontario then those folks could get together in person too. If there is lots of interest then there will be an expansion draft for new teams.