I'm going to throw out some random "things to know" about how things are going to proceed. Please read (I will add this to the OP)
About the Salary Cap
The Salary Cap is $250. The cap only applies to the auction. Once the auction is over you can go over the cap. Since we are starting fresh, we will all start the auction with zero dollars. In future years you will see the value of quality, low priced keepers. For now you just need to budget for 15 player. As your roster fills You must keep a minimum of $1 per open slot. Hypothetically you could bid $236 on one guy, and $1 for 14 guys, but that would be dumb.
The Auction
Normally the auction will be held through the CBS site, but since we have so many slots to fill we are going to do the inaugural draft differently.
The auction will be held Monday-through-Friday. I will set a schedule of players to be auctioned. The schedule will be based on a random order of CBS' Top 200 rated players and a mix of eligible rookies.
New players will open up for auction at 9 AM (EST) on the day of their scheduled auction. When a player comes up for bid anyone may start the bidding as low as $1. If you want to outbid someone you simply repost with a higher bid. Bidding will continue for any given player until a 24 hour period has passed. If there are no more bids on a player after 24 hours the high bidder is awarded the player at the salary of the high bid and that amount is counted towards the $250 cap. Players won in the auction have 2 year contracts, with a 3rd year option.
*Bids may occur during Saturdays and Sundays, but the expiration of an auction may only occur on weekdays (essentially the 24 hour period will be 72 hours for Friday bids). Players not receiving bids will go into the free agent pool and be available once the auction is over.
There may end up being a ton of players up for auction simultaneously so don't get caught spending in too many places at once and plan according the schedule. YOU MAY NOT RETRACT A BID. *One exception is if you bid the same amount as another player and your bid shows up after the initial bid - in which case you will have to rebid or pass.
Roster Considerations
We do not use positional requirements. My feeling has always been that basketball players don't have to stand in a set position and flow freely quite often between their stated positions, so why stick them to a slot. It's their stats we're after, not their position. Chances are if you draft a bunch of centers you're going to do well in blocks and rebounds...Basically, mold your team however you like.
The Future
Sadly a lot of the long term stuff of this league won't really kick in until the 2nd or 3rd season. I don't want to get too bogged down with the keeper rules just yet, but feel free to ask any questions.
I'm sure I'll think of more stuff, but I wanted to get this down while I had the wherewithal.
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Confirmed owners:
1) Redz
2) Dano
3) Kwhit10
4) celtsrp33
5) bdm860
6) Edgar
7) Timdawgg
Alternates
1) Roy H
2) RIPRED
3) Birdbrain
4) jax_celtsfan