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1) The League of Madness is a live draft keeper league.

2) League settings are listed on the league page on Yahoo!. This is a 16 week, head-to-head league. 13 weeks of regular play and three weeks of playoffs. Transactions can be made up to, but not after the league championship game.

3) There will be a three week playoff, as determined by Yahoo! tiebreaker rules. The top two seeds will receive a week one bye.

4) Rosters shall be made up of 15 players with no injured reserve. The 15 roster positions are: QB, WR, WR, WR/TE, RB, RB, TE, K, DEF, BN, BN, BN, BN, BN, BN

5) Trades are subject to league approval. If more than 25% of the league objects (4 teams in a 14 team league) the trade will be overturned. Every trade involving the league commissioner will have one automatic objection from the commissioner to prevent the appearance of impropriety. This objection can be abrogated by the commissioner only if the commissioner's trade partner issues an objection.

6) If a trade does not get four objections it goes through. It cannot be rescinded by either or both of the trade partners.

7) Each team shall have the option to reserve up to 6 players from their year-end roster in the following season. Each player reserved shall cost the team its draft spot 2 rounds higher than its current year draft position. In other words a 10th round pick would cost an 8th rounder in the following year's draft. The year after it would cost a 6th rounder. Free agents acquired prior to the final game can be reserved at the cost of a 10th round pick. If a team wishes to reserve two players with the same draft round status, whether acquired due to free agency or trade, they may but must choose one player to cost an extra round. In other words if an owner has two 6th round picks he wishes to reserve he may. One would cost a 4th round pick and one would cost a 3d. He may choose which player is assigned which round of status.

8) Keepers must be determined and submitted by each team prior to time designated by the commissioner within 48 hours of the beginning of the draft. Late selections and changes will not be allowed.

9) A player shall retain his draft position status throughout the season. If he is released by one team and picked up by another he shall be assigned the higher of his draft position or 12th round status as a free agent.

10) Players not listed in the Yahoo! directory may not be drafted or signed as a free agent until they are listed in the Yahoo! player directory and clear the waiver period.

11) Waiver priority shall be determined by reverse draft order to begin the season. Upon exercising waiver rights an owner's priority drops to the bottom of the list, with each team below improving by one position to fill the gap.

12) Rosters shall be locked per Yahoo! protocol from kickoff Sunday through the week's final game. If there are NFL games prior to Sunday, participants from that game may not be added to or dropped from a team's roster until after the week's end.

13) Teams can be transferred from one owner to another between seasons. If a team is abandoned by an owner between seasons its ownership and reserve rights will be allocated by existing league owners to a suitable replacement.

14) If a team is abandoned mid season the commissioner will take over temporary roster setting duties until a replacement owner can be found. Player transactions will be frozen during this period. In the event that the commissioner is slated to play this team during this period, roster setting duties will be assigned to the team - other than the commissioner's - that has the most points scored overall.

15) The commissioner reserves the right to prevent wholesale player dumping or roster mangling by a discontented owner. The commissioner may take extraordinary measures to prevent this, including suspension or temporary seizure of the team. An owner may be ejected from the league via 2/3 vote of a quorum of no fewer than 10 owners.

16) The draft each year shall be conducted serpentine style, with the last team from the previous round picking first and the order reversing each round. Draft order shall be reverse order of finish from the previous season.

17) The draft will be conducted on the Fool message boards with no more than 14 picks/day. There will be no draft conducted on weekends. Each owner will be allocated one hour on each draft day to make his/her pick. After the allocated hour that owner is free to pick at any time but subsequent owners may also make their picks. No owner may pick prior to his/her allotted time unless all prior picks for that round are completed. After the 14th round, teams will be established on the Yahoo! site and a 2 day waiver period commenced. During this period teams have an option to claim a player to fill their 15th roster spot, which will otherwise remain available until it is filled via free agency.
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