SECTION 8: STARTUP AUCTION
8.1 Auction Arena
8.2 Startup Auction Salary Cap
8.3 Auction Format
8.4 Etiquette
8.5 Assigning Contract Years
8.1 Auction Arena
The auction arena, the place and time where the auction draft is to be held, will be set by the league to accommodate as many league members as possible. If for any reason a manager cannot attend the auction at the specified time and place then the manager shall forfeit his right to a club. It is of utmost importance that all managers are represented before the startup auction commences to maintain the competitive balance within the league. The startup auction is the most important event and will establish your franchise roster for years to come.  The startup auction is a one-time event; all other auctions afterwards are Rookie Auctions.

8.2 Startup Auction Salary Cap
Each club is given a fantasy salary cap of $200M to bid on players. The salary cap is only to be used for the buying of players at the auction and has no significance throughout the remainder of the season. Managers cannot sell or trade players to other clubs during the auction. (Important Note: The Startup Auction salary cap is NOT the same as the $200M acquired by each franchise on Sept. 1st as the franchise fund)

8.3 Auction Format
· Franchises must acquire a total of 25-30 players.
· A manager brings up a player with a bid giving the players name and position.
· The assumed dollar amount is $0M for the initial bid if no specific amount is stated.
· All managers can bid higher or pass on the player.
· All bidding is to be done in $1M increments or multiples thereof.
· This process continues until a high bid is reached and the high bidder gets the player.
· The next seated manager calls up a player and the bidding process is repeated.
· When an individual manager has finished his roster, he needs to “pass” rather than nominate a player showing he is out of the auction.  A manager that has passed cannot bid on or nominate any more players; he has finished the auction.
· The auction is over when each manager has passed and the auctioneer declares the auction over.
· Contract Years must be assigned by the date given at the auction; this date will be one week after the auction.
· The Commissioner will decide upon any discrepancies.

8.4 Etiquette
There is no assigned seating.  When you call out a player for the auction, you need to announce his name and position every time. You cannot ask other managers any questions about which player is up, how much he went for, what position he plays or any such questions; you need to ask the auctioneer for this information.  The important thing is that the other mangers are not distracted.  All managers should arrive at the auction fully prepared.

8.5 Assigning Contract Years
Following the Startup Auction, all managers will have one week to assign Contract Years to their players or place them on the Farm.  An exact due date will be given at the auction.  Managers may drop players during this week but cannot pickup any players.
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Commissioner, TKO Legacy League