[USML Announce] USML - FAAB bidding

Tue Mar 25 13:17:42 EDT 2008

Mark has enough nightmares I'm sure.  I'm cool with whatever
happens....thanks,
Brad

On 3/25/08, Jeff Winick <jhwinick at aol.com> wrote:
>
>  The site already provides that ties go to the lower team in the
> standings, but only for the first player awarded  After that the priority is
> as the site indicates. To do otherwise creates a nightmare for Mark. He'd
> potentially have to redo all of the transactions. It doesn't seem fair to
> burden Mark with that. What's up Brad. Worried that you'll be last again
> this year?
>
>
> Jeff
>
> Sent from my iPhone
>
> On Mar 25, 2008, at 1:04 PM, "Brad Jansen" <bljansen at gmail.com> wrote:
>
>
>
>  I agree with RER.  And will ties go to lowest team in current standings,
> unlike the site's methodology?
> --BLJ
>
>
> On 3/25/08, Richard Robbins <RERobbins at itinker.net> wrote:
> >
> > Thanks for all the guidance guys.
> >
> > I'd really like to keep our "eBay" style bidding as this makes it more
> > difficult to create asterisk players.
> >
> >
> > -- Rich
> >
> > On Mar 25, 2008, at 10:52 AM, jhwinick at aol.com wrote:
> >
> > A few important points/questions:
> >
> > 1.  The system awards the player to the highest bidder.  During the last
> > few years we have reduced the winning bid to $1 over the next highest bid.
> > That requires extra work for the commissioner.  Are we going to continue to
> > use that system?
> >
> > 2.  If we do use the same system as the last few years, it is important
> > to note that the "refund" isn't effective until the following week.  The
> > system will disregard bids once you've exhausted your budget.  So, if you
> > make a high bid on one player and you win, you may exhaust your budget for
> > the week, even if you are entitled to have your FAAB replenished for the
> > following week.
> >
> > 3.  Since we don't yet know how well this will work, I would recommend
> > that for the first couple of weeks that people send a copy of their FAAB
> > bids to usmltrans.
> >
> > 4.  Contingent bids are now treated differently than they have been in
> > the past.  It used to be that if a team bid on only one player, that team
> > would have priority over any team that placed a contingent bid on the same
> > player, even if the contingent bid was higher.  That is no longer the case.
> > The logic of the system is explained in detail in the information provided
> > by Mark.
> >
> > Jeff Winick
> >
> >
> > -----Original Message-----
> > From: Blocker, Mark B. <mblocker at Sidley.com>
> > To: announce at usml.net
> > Sent: Tue, 25 Mar 2008 9:35 am
> > Subject: [USML Announce] USML - FAAB bidding
> >
> >  This is straight from the website, which no one bothers to read:
> > What is FAAB (Free Agent Acquisition Budget)?
> > [image: ole0]Answer
> > FAAB stands for Free Agent Acquisition Budget. Every add/drop is granted
> > via a blind, bidding system that is processed automatically. Each time an
> > owner has an add/drop processed, they will be placed at the bottom of the
> > FAAB order. If there is a tie for a player, the FAAB order is used; the
> > owner that is higher in the list will receive the player and be moved to the
> > bottom.
> >
> > You can also select the Commissioner FAAB approval process. Free agents
> > are still picked up via a blind, bidding system, but it is processed by the
> > commissioner and not automatically. The Commissioner will go to the
> > Transactions Request page to process the winning bids.
> >
> > If you select to use either of the two available FAAB options, each
> > owner will go to the My Team/Add-drop page and select the players to be
> > added and dropped then a bid is entered. The team with the highest bid for
> > that player will be awarded the player and the bid value subtracted from
> > their budget.
> > Example #1
> > Team #1 as listed in the FAAB order inputs a request for three players:
> > Player "a" bid of $15
> > Player "c" bid of $10
> > Player "b" bid of $1
> > Team # 8 as listed in the FAAB order inputs a request for three players:
> > Player "a" bid of $25
> > Player "c" bid of $10
> > Player "b" bid of $1
> > The system looks for the player that has the highest overall bid placed
> > on him. In this case, player A would be the first player auctioned. The
> > system would then search through every bid submitted for Player A. The team
> > with the highest bid for Player A would win that player. In this example,
> > team 8 would be awarded Player A.
> >
> > The FAAB process will continue in this manner. The system will seek out
> > the player that has the highest overall bid for him. Player C will be the
> > next player auctioned. If there are 2 equal bids for the same player (c),
> > the system will award the player to the team that is highest on the FAAB
> > order. For Example, player C will be auctioned second and awarded to Team #1
> > because they were ahead of Team #8 in the FAAB order (remember Team #8 would
> > be at the bottom of the FAAB order because the won the previous auction.)
> > Finally, player (b) will be auctioned last and awarded to Team #8
> > because they are higher on the FAAB order (Team #1 was dropped to the bottom
> > of the FAAB order because the won the previous auction).
> > Please note: If a team is dropping the same player for multiple bids and
> > that team wins a bid all subsequent bids involving "same" dropped player
> > become invalid.
> > Example #2
> > FAAB Budget is $100
> > The remaining budgets for the bidding teams are as follows:
> > John's Team $55
> > Sam's Team $80
> > Joe's Team $40
> > Larry's Team $65
> > John is listed #1 in the FAAB order and his FAAB bids are:
> > Player A bid of $30 dropping Player X
> > Player F bid of $30 dropping Player Y
> > Sam is listed #3 in the FAAB order and his FAAB bids are:
> > Player B bid of $20 dropping Player M
> > Player C bid of $15 dropping Player M
> > Player D bid of $5 dropping Player O
> >
> > Joe is listed #4 in the FAAB order and his FAAB bids are:
> > Player C bid of $10 dropping Player R
> > Player E bid of $10 dropping Player R
> > Larry is listed #7 in the FAAB order and his FAAB bids are:
> > Player F bid of $5 dropping Player T
> > Player D bid of $5 dropping Player V
> > The first player to be auctioned is Player A for $30. Player A is
> > auctioned first because $30 is the highest overall bid. John has Player A
> > prioritized as his first bid. John wins the bid for Player A for $30. John
> > drops to the bottom of the FAAB order and $30 is subtracted from his FAAB
> > budget.
> > Player F would not be auctioned at this time because John's $30 bid
> > would exceed his FAAB budget.
> > The second player to be auctioned is Player B. Sam wins the bid for
> > Player B with a bid of $20. Sam drops to the bottom of the FAAB order and
> > $20 is subtracted from his FAAB budget.
> > The third player to be auctioned is Player C for $10 (Sam's bid of $15
> > became invalid when Sam dropped Player M to claim Player B). Joe wins the
> > bid for Player C with a bid of $10. Joe drops to the bottom of the FAAB
> > order and $10 is subtracted from his FAAB budget.
> > The Fourth player to be auctioned is Player F for $5. Player F is
> > auctioned next for 2 reasons:
> > 1)Larry is higher in the FAAB order because Sam dropped below Larry with
> > a successful bid earlier in the bidding process. Since Larry is higher in
> > the FAAB order, his bid (Player F for $5) will be auctioned before Sam's bid
> > (Player D for $5).
> > 2)Larry has prioritized his bid of Player F over Player D.
> > Larry wins the bid for Player F for $5. As stated previously, John's $30
> > bid for Player F was invalid because his bid would have exceeded his FAAB
> > budget.
> > The last player to be auctioned is Player D. Both Larry and Sam have
> > equal bids of $5 for Player D. Sam wins the bid for Player D because he is
> > higher in the FAAB order. John had dropped to the bottom of the FAAB order
> > by winning his previous bid. Sam drops to the bottom of the FAAB order and
> > $5 is subtracted from his FAAB budget.
> > Player E is not auctioned because Joe no longer has Player R to drop and
> > there aren't any other bids for Player E. If Joe had a different player to
> > drop Player E would have been auctioned.
> >
> > Sidley Austin LLP mail server made the following annotations on 03/25/08, 09:31:12:
> > -----------------------------------------------------------------------------------------------------
> > IRS Circular 230 Disclosure: To comply with certain U.S. Treasury regulations, we inform you
> > that, unless expressly stated otherwise, any U.S. federal tax advice contained in this
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> > used, by any taxpayer for the purpose of avoiding any penalties that may be imposed on such
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> > with the promotion or marketing by others of the transaction(s) or matter(s) addressed in this
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> >
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