Constitution

Structure
  1. The league shall consist of 8 to 10 teams of 12 players each.
  2. An entry fee of $50 shall be required of each team.
  3. The league champion will receive a 75% monetary prize of the total purse. Second place will receive 25%.
    1. This is dependent on total number of teams in the league.
Format
  1. The season shall be comprised of 23 weeks, which run from Monday through Sunday.
  2. The league is a re-draft league. There are no keepers.
  3. During the first nine weeks, all teams will compete. 
  4. Following Sunday's games on elimination weeks, the team currently in last place in the overall standings will be eliminated. Their players will then be placed into free agency. 
  5. Elimination weeks are as follows: Week 9, Week 11, Week 13, Week 15, Week 17, Week 19, Week 21, Week 23 (two teams- League Championship awarded). 
    1. This is dependent on total number of teams in the league.
  6. The final few days of the NBA season will be ignored due to teams typically resting stars.
    1. This is dependent on the NBA schedule for that given year.
  7. In the event of a tie, the team with the lower (worse) ranking in the Points Scored category shall be eliminated. Rebounds, Assists, and Blocks will act as the 2nd, 3rd, and 4th tiebreakers, respectively.
  8. The standings do not get reset following eliminations and the statistics and places of eliminated teams remain. Thus, an eliminated team can still be ahead of active teams in certain statistics. 
Roster
  1. The roster shall be comprised as follows: PG, SG, G, SF, PF, F, C, C, Util, Util, Util, Util.
Scoring
  1. The scoring shall be done in rotisserie fashion, with the following categories: Points Scored, Rebounds, Assists, Blocks, Rebounds, Field Goal Percentage, Free Throw Percentage, and Three-pointers Made.
Auction
  1. Players will initially be assigned to teams through an auction. 
  2. Each team is given $200 to fill all 12 roster spots.
  3. Yahoo! rules governing the auction will apply.
Player Acquisition
  1. During the season, players may be acquired via two methods: Trade and Free Agency.
  2. Trades are subject to commissioner and designee veto/approval process to last no more than 24 hours.
    1. Both the commissioner and designee must agree to veto for a trade to be vetoed.
    2. Should the commissioner or his designee be involved in the trade in question, a stand-in shall replace him in the decision process. Two stand-ins shall be utilized if the trade involves both the commissioner and his designee.
    3. The designee and stand-ins shall be named before the beginning of each season.
  3. When a player is released by an owner, or when a team is eliminated and all players released from it, they shall enter a two-day waiting period during which they can be bid upon in a blind Free Agent Auction.
  4. The team with the highest bid shall win that player.
    1. Ties shall be broken by "Continual Rolling List"
  5. If a player is not bid upon, he shall be declared a Free Agent and can be signed by any team at any time for no cost.
  6. The Free Agent Auction Budget for the year shall be $200 plus any unused auction money 
  7. The minimum bid shall be $1.
Commissioner's Powers
  1. The commissioner shall have the power to clarify any existing rule as he sees fit.
  2. The commissioner has the power to, within reason, change any rule during the offseason. Once the auction has occurred each season, rule changes may only occur by 7/10 in favor vote.
  3. The commissioner has the power close an existing loophole of the rules post de facto, for the good of the league, regardless of when it occurs, but should only use such power in situations of extreme importance.
RATIFICATIONS:

Winter 2013: Commissioner power over trade veto enacted
Winter 2013: Elimination of the IR Rule
Winter 2013: Free Agent Auctions moved to Wednesday
Winter 2012: Fewer eliminations scheduled, allowing three teams to compete until the end of the season
Winter 2011: Elimination of Turnovers category
Winter 2011: One-year modifications made to league constitution regarding elimination weeks due to shortened season because of NBA Lockout
Winter 2011: Free Agent Auction moved to Thursday
Winter 2011: Payout structure changed from 65-25-10 to 75-25

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