It's a 12-team league. You will inherit a team -- I think there are openings still for this season, but I'm not the commissioner -- with a maximum total value of $400. Your first task will be to decide which of your players are worth their current salary, and which you'd be better off cutting to the free agent pool. There will be an auction draft of players in the free agent pool in March. (Major-league player salaries all go up $2 at the end of the season, plus individual salaries can be further jacked up by the "arbitration" process, in which your rivals decide which of your players deserve more money. So don't assume only bad players wind up in the free agent pool. Bryan Harper is a current free agent, for example.) You can only spend up to $400, and you can only fill 40 roster slots. Minor leaguers are eligible to be drafted as well. During the season, an owner nominates a player to be added from the free agent pool, and all owners will have two days (I think) to bid on that player. The highest bidder gets the player and pays the cost. Cutting a player during the season gets you half their salary back. Trades are allowed, and can include money as well as players, but to this point they've really been rare in our league. .