We've held these kind of drafts here at the cafe the last couple of off-seasons. We had a complete set of rules that worked pretty well, those have been deleted it seems. I may have a copy on my computer at work.
As for nominating players to be on the board, the moderators can keep 15-20 players on block all the time. Those participating in the draft can pm lists of players to the mods to post as positions become open.
The tough part of the draft is to determine how long to leave players bids open. In the past, we left the bidding open for 24 hours after the last bid. That gives everyone a fair chance to bid on a player. It also eliminates the auction practice of trying to steal a player by jumping in when the bidding is almost over. If the last bid must hold for 24 hours, jumping in at the 23rd hour just causes that auction to last another 24 hours.
There are lots of decisions to be made. I've helped with these a couple of times and it is a lot of work for the mods. I look forward to the auction.
Good luck to all.