14) Free Agent Auction
Free-Agent Auction – How are the auctions handled?
a) Auctions will take place every August (usually starting on the 13th). The date will be specified on the league calendar.
b) Each team will have a $1230 salary cap to spend on players.
c) You will acquire your roster through proxy bids, which is an online auction system very similar to eBay on the MFL League Website. You set your maximum bid per player, and the system automatically raises the price to the lowest possible amount that will still win you the auction.
d) When the highest bidder holds the bid for 12 hours, the auction for that player is over.
e) Each owner will open the bidding by selecting 3 players to bid on. When the bidding for any of those 3 players is completed, the owner will nominate another player to continue the process. In other words, each team should have 3 players of their own choosing out for bid at any given time. This will ensure that at all times, there are 48 players (16 team league) available for bidding.
f) The commissioner can, at his discretion, submit players into the auction if the number of players in auction declines.
g) Any remaining money, after the auction is finished, can be spent on free agent acquisition during the regular season.
h) Auction bids, trades, free agent acquisitions which exceed the cap will be refused either by the system or by the commissioner.
i) The system will reserve $1 for every roster spot, so while you are not required to fill your roster in the auction, you cannot spend your entire salary cap on fewer than the roster limit.