Salaries match real life for players drafted.
Any player that is not drafted will be bid on Free Agency. Then there contract will correlate to that bid.
Draft format is a snake draft here is some info:
12 Hours per pick
All players major and minor are available
You inherit the real life contract but any player making over 25m reverts to 25m
Draft Order done randomly
After you pick please reply to the group email notify everyone who is up
Players will be added to Fantrax team once picked
Google Doc will contain all players contracts prior to the draft