I am the commissioner of a 14-team dynasty league hosted on Yahoo with its' offseason run on Proboards. The league has been running since 2007. There are no contracts, the league is free, and the wrinkle with this league is that each owner must represent a Major League organization. For example, I represent the Cubs, and to do this I must carry at least 6 players on my major league roster that are currently on the Cubs at the end of each season.
If you are interested or have any questions, please email me @ email@example.com. My hope is for us to have the remaining replacement owners lined up in short order, as we would like to start our minor league draft by early December.