I have been the commissioner of a free Yahoo league for the past few years and am now beginning an auction league. There is a $100 entrance fee and the auction will be March 27 beginning at 7 PM EST. I am looking for good owners and will spend the first few seasons weeding out those who are not active and respectful of the other owners (Been a member of a league of jerks and won't allow that to happen in this league).
It will be a 5 x 5 keeper league complete with long term contracts, buy outs, and minor leagues.
I am not an autocratic commissioner and any rule changes will be made after a healthy debate has occurred. That said, I won't make any changes that I am completely against, either, not if I'm going to be commissioner. It will be a league that I will enjoy playing in, and hopefully you will to. (As an aside, in my Yahoo league all 11 owners from last year are returning this year).
As for the draft, it starts in the evening (so I can put the baby to bed) and will go through the night if need be. If we are efficient, it could take as little as 5-6 hours. If we are not efficient, it could take significantly longer. Hopefully, that will not be the case.
If you are interested, contact me at mailto:email@example.com
and I will send you the league constitution.