J-Rock, as you are starting a League from scratch, here's an idea culled from a Dynasty League I helped start in 2000. Still going strong, based on how we did things right from the get-go...
First of all, we did our initial player disbursement via an auction, not a serpentine draft. You can read my post in another thread, either about start-up Dynasty or Auction Drafting, but let me STRONGLY urge you to go this route.
Dynasty Leagues are, in theory, designed to be around for a long, long time. It's only fair that each individual owner has the opportunity to build his team however he chooses, and an initial auction draft is the only fair way to ensure that every owner has the option to draft any player he chooses, and structure his present and future as he sees fit.
We started a 14-teamer, and held an initial auction where everyone was alloted $400 in 'fantasy bucks', the same amount as the 'real cash' buy in...
...thing was, any money you had left over at the end of the auction, you held over as a cash reserve going forward for RFA and UFA pickups. While we don't have a 'blind bidding' waiver wire, you could easily incorporate that, and as a previous poster stated, MFL handles it.
The neat thing about this approach is that everyone went into the draft with a different strategy. Some folks went cash crazy during the auction and bought a great team right out of the gates. Some folks held kind of a 'middle ground' and chose to take one or two marquee players to build around. Others took a 'long view' and spent very little during the initial auction, but 2-3 years down the road still had heavy cash reserves that allowed them to be major players in the RFA/UFA mkt, when many of the marquee players initial contracts had expired. Everyone had their own strategy, and freedom to manage their franchise as they chose right from the starting gate.
In addition to the leftovers from the initial auction, we also allocate a yearly replenishment in the amt of 20 'fantasy bucks' to each team just before the NFL Season starts. This allows teams to use as much of their money as they want for RFA/UFA's, while giving them a chunk of change going into the season to use on WW pickups, which cost $2...
...just something else to consider...
Remember, when it comes to Dynasty, give a long, serious though to having your initial player disbursement via an auction draft. You won't be sorry.
