The 2018 Season will introduce some new rule changes and updates. Rules can always be added, removed or changed with enough team votes.
There was considerable debate on many topics including some of the following: a strict time limit for picks, possible punishment for late picks/late drops/ or late fees, and a mandatory movement rule where teams must make a least one trade a year. Though, we have focused on what we believed were priority updates.
Why now?
Some rules are almost 20 years old; they have become antiquated and are no longer impactful for the current time. None of these changes will impact the current season.
Attendance is always important
A single voice can sway decisions; these decisions are currently effective without any debate. They can always be changed or altered at the next meeting (i.e. trade deadline) or by proxy if enough teams agree.
The 8 teams who attended the draft were Devils, Leafs, Ferrari, Blackhawks, North Stars, Oilers, Hitmen and Vikings unanimously approved the following:
1.) Annual Fee increase from $110 to $150
Updated Rule:
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LifeTimePool.com annual entrance fee will be $100 $130 each team for the season and $10 $20 for Lifetimpool Playoff Cup. A total of $150 per team is due each season with mandatory payment at by the draft.
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The prize distribution will be the same; “Annual prizes to the best competitors will be distributed as 60% to the winner, 30% to second place and 10% to third” and one Lifetimepool Playoff Cup winner.
Minimum** total gross winnings: $1800
New Season Pot: $1560**
1st Place (60%) - $930**
2nd Place (30%) - $460
3rd Place (10%) - $170
New Playoff Pot: $240
Why Now? Each franchise is financially more stable; general inflation; and the pot should reflect the player cash values. This should also hopefully motivate some teams to be more competitive.
2.) 10% LTP Marketplace transaction fee for all off season cash deals
Updated Rule:
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The transfer of players for money can be made only in the off-season. A 10% transaction fee will be applied to the sale. The selling team must send the funds immediately to Lifetimepool for the deal to be announced. The funds will be applied to the 1st place prize.**
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Why Now? The LTP league is the marketplace and what provides value to the players; the league should be compensated. The seller will be required to send funds upon announcing the deal. This also will help govern money transaction between teams. This should motivate a smooth transaction between the buyer and seller.
3.) Cash trades frozen for 1 Season
Updated Rule:
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N/A
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Why Now? Cash deals will never be removed entirely. Cash deals are a part of the original rules and add entertainment to the pool. Though, with some franchise uncertainty and some recent hostility it was determined it is in the best interest of the league that cash deals are frozen for only one season. They will recommence immediately after the 2019-2020 Stanley Cup final.
4.) Exiting the League Rule Change
Updated Rule:
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Once you are a member of Lifetimepool; there are only three ways to exit the pool:
a.) Pay an exit fee of $300, which goes to the prize pool for the following year. This results in the exiting teams players to be made available in the upcoming dispersal drafts. The exiting team will select any 3 players from their roster to have auctioned at the LTP draft.
i. All teams will be involved in a live auction for each individual player. The highest bidder will receive the player. The highest bidder will need to provide a drop player to return to the exiting teams roster.
ii. All auction funds will be given to the exiting team minus a 10% LTP Marketplace transaction fee that will be added to the upcoming seasons 1st place prize.
iii. The league will take control of the team until a new owner is recruited. A franchise fee may or may not be applied to the new owner.
b.) Sell your entire franchise to another person. The league has to approve the new owner with a vote, and may deny a franchise being sold.
c.) Death
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Why Now? We hope there will never be any teams leaving the league. Though, Lifetimepool does not want to imprison anyone to the league. There are options for teams who are considering on leaving. One certainty is that the league is not looking to contract in size; Lifetimepool is always looking to expand.
When these rules were created a $300 exit fee was determined to be an expensive deterrent. After 18 years, the evolution of the league has made that rule dated and obsolete. If a team needs to exit; this was now deemed the fairest and easiest way to facilitate the transaction.