I thought I'd start a thread for our new owners to ask any questions as some found it useful for the other "101" threads.

* Rookie draft is 3 rounds. The 3rd round is *optional* meaning that you can pass on any 3rd round picks.
* You can trade draft picks as the draft happens. So if someone has been on the site a few times but hasn't picked yet it may be they are trying to work a trade to move down or get a player for the pick.
* 12 hour timer per pick. If you don't draft within that 12 hours the pick will time out and move to the next pick. You can submit a pick to the commish at any time to fill in for your missed pick however it can only be a player not already drafted (ala the NFL draft where teams can run up in front of the timed out pick).
* After the draft is over any undrafted NFL rookies can be brought up in the auction which runs until early Sept.
* You must have enough salary cap space to sign your rookies. Rookie salary scale is in the league constitution. Thus if you have the 1st overall pick and draft an RB at 5 million you need to have 5 million free space to sign him (pretty sure that's what we clarified last year). You have this week to make room obviously.
* There are 3 Taxi Squad spots for rookies. If you draft more then that then they will have to be on your active roster.
* Rookies on the TS have their salary count only 50% toward your cap.
* Deadline for giving rookies a contract of more then default 1 yr is cut down day in August. So on that day you must have your rookie contracts in on the message board and you'll have to drop enough players to get at or under the roster max (22 plus 3 TS rookies). You can of course drop any rookies just like any other player, taking the 50% cap hit the current season.
That's all I can think of off the top of my head so ask away any questions.