Update on Trading Future Draft Dollars

Hey owners -

Thanks to everyone who (finally) voted, and I believe that's a wrap! All three measures below PASSED with 10 votes each:

• Tax: For every $5 traded, the first $1 will be delivered to a league tax account. The first dollar of every $5 is taxed. For example, a $2 tax would be imposed on a final trade of $6 or $10.

• Creation of Losers Bracket Tax Benefit: All tax dollars collected into the bank throughout the season will be awarded to the winner of the Consolation Ladder Losers Bracket, specifically Game C7 of Round 3, for the following year’s auction draft.
  

• Caps: Sellers are capped at trading no more than $75 of future draft dollars per season.
  

That said, all rules are set for 2018, and can be viewed along with other incredibly fascinating league details here: https://docs.google.com/spreadsheets/d/1-kxBu1VdBhOjuSfBD9KXM_uPIAMvc6BFsh-M-uXSwh0/edit?usp=sharing For when you don't click on the link, here's a summary of the adopted language:

Trades

There are unlimited trades in the league and the league deadline is December 1st. Each trade will have a one-day review process, and 10 teams must oppose a specific trade for that trade to be vetoed. Beginning in 2018, owners will be eligible to trade for/away the following year’s auction draft dollars for players (see rules as agreed upon below).

Trades with Future Draft DollarsFor any trades involving future draft dollars, both owners must confirm future draft dollars are being traded via email to the commissioner. Subsequently, regardless of players or draft dollars being included, the commissioner will send a league-wide email highlighting the deal, and traditional league veto powers are followed via email to the commissioner (24 hour review plus 10-vote veto needed). Sellers are capped at trading no more than $75 of future draft dollars per season. For every $5 traded, the first $1 will be delivered to a league tax account. Meaning, if an owner agrees to sell to a recipients $5 in future draft dollars, $1 of that $5 total will be removed from the auction draft (recipient pays). The first dollar of every $5 is taxed. For example, a $2 tax would be imposed on a final trade of $6 or $10. In addition, both owners in the trade are automatically confirming their participation in the following season. Any seller who wins money in the league will first be paying the following season’s league dues before receiving any prize money. For example, if they won the championship, the commissioner would withhold $100 of the $800 to ensure that owner’s dues are paid the following season. The commissioner will be responsible for providing owners with updates surrounding any and all future draft dollars by team as well as the league tax throughout the course of the season.

Loser Bracket Tax BenefitAll tax dollars collected via trades involving future draft dollars throughout the season will be awarded to the winner of the Consolation Ladder Losers Bracket, specifically Game C7 of Round 3, for the following year’s auction draft. Thanks again and, until i think of something else to discuss in this league, I'm out! Commissioner📷