Sportfolio Constitution

Version 2.7 — Acquisition freezes at the end of each regular season

1. League identity and purpose

The league is named Sportfolio. It is a six-manager, multi-year keeper league in which each manager builds a portfolio of professional teams, college teams, and golfers across six sports.

Sportfolio is designed to reward year-round interest without requiring daily fantasy-style lineup decisions. There are no lineups to set and no weekly management burden.

Managers follow the league through a weekly Tuesday update, published every Tuesday. It summarizes current standings in each sport, the past week's transactions, and the week's market window, deadlines, and freezes. Activity concentrates around drafts, the weekly market windows, trades, and postseason races. Nothing requires a manager to act in any given week.

There is no separate championship matchup or playoff. Each Sportfolio cycle ends with a final overall table after the World Series.

2. Managers and rosters

Sportfolio has six managers. Every asset is exclusive: an NFL team, college team, NBA team, MLB team, or golfer may be rostered by only one manager at a time.

Each manager has 22 roster positions:

College basketball carries five positions rather than three because the pool is roughly 364 teams. With three, the sport reduces to whether a manager happened to draft the eventual champion.

FCS football teams are not draftable. Games against them score normally for the FBS opponent — there is no reduced margin rate and no margin cap.

A roster may be temporarily below its required size after a repair trade whose claim failed, or a draft-pick shortage. A roster may never exceed a sport's limit.

An empty position scores zero, and that is the entire penalty. Because scoring is never negative, an empty position can never outperform a rostered asset and will ordinarily sacrifice scoring opportunities. No additional penalty or forced-fill rule applies.

There are no benches, injured-reserve positions, or inactive lineup decisions.

Every sport has keepers. Each manager may retain up to one asset in each of the six sports, for a maximum of six keepers in a cycle. Keeper limits and contracts are detailed in Section 5.

3. Sportfolio cycles

A cycle combines seasons that begin in different calendar years. A cycle labeled Year N contains:

• NFL and college football beginning in Year N;
• NBA and college basketball beginning in Year N and ending in Year N+1; and
• PGA and MLB seasons in Year N+1.

The cycle becomes final after the Year N+1 World Series. The next cycle's football season may already be underway at that time. The two cycles are tracked separately; points and standings never move between cycles.

Note that cycle labels are offset from calendar years for the spring sports. The 2023 World Series belongs to cycle 2022. This causes predictable confusion when comparing against published records.

The annual Foundation Draft begins a new cycle.

4. Draft calendar

Sportfolio uses three combined seasonal drafts. Each must be completed before its sports begin.

The timing column is guidance; the "must precede" column is binding. Both the draft and its completion window must finish before the sport's first game — the 2026-27 NBA season opens October 20, so a late-October Basketball Draft would not clear it.

4.1 Foundation/Football Draft

The Foundation Draft includes:

• NFL teams;
• FBS college-football teams;
• the six Basketball Draft seats; and
• the six Spring Draft seats.

In the inaugural cycle, it is an eight-round snake draft. Each manager must leave with three NFL teams, three FBS teams, one Basketball Draft seat, and one Spring Draft seat.

The Foundation order is determined by a new random public draw every fall. It is not tied to prior standings, preventing tanking and avoiding reliance on an unfinished prior cycle whose MLB season may still be active. Once the order is issued, Foundation picks may be traded.

All six Basketball Draft seats and all six Spring Draft seats are drafted again in every annual Foundation Draft. A manager may acquire no more than one seat for each future draft. Draft seats are never carried forward as keepers, giving every manager a fresh opportunity each fall to prioritize a future draft position.

In keeper years, football keepers occupy the manager's earliest Foundation rounds. The manager then makes live selections until every vacant NFL and FBS position is filled and one Basketball seat and one Spring seat have been acquired. The draft board skips a manager after all legal Foundation needs have been filled.

4.2 Basketball Draft

The Basketball Draft is a combined draft of NBA and NCAA men's basketball teams. With no keepers, it consists of eight rounds per manager: three NBA teams and five college-basketball teams.

It is a straight draft, not a snake. Draft seat No. 1 selects first in every round, seat No. 2 selects second in every round, and so forth. Because the Basketball Draft is eight rounds rather than six, seat position carries more weight than in prior versions and should be priced accordingly in the Foundation Draft.

4.3 Spring Draft

The Spring Draft is a combined draft of MLB teams and professional golfers. With no keepers, it consists of eight rounds per manager: three MLB teams and five golfers.

It is also a straight draft, using the Spring seat acquired in the Foundation Draft.

4.4 Draft seats, Foundation positions, and individual picks

A Basketball or Spring draft seat is the bundle of selections associated with one position in a straight draft. The seat itself may be traded.

A Foundation position is different. It is the random-order template that generates a manager's picks in the snake draft, not a separate permanent asset. For example, Foundation position No. 2 initially generates picks 1.2, 2.5, 3.2, 4.5, and so forth. After final keepers are known, each remaining live Foundation selection receives its final number and becomes independently tradeable. A manager may package any number of those picks — including every remaining pick associated with the position — but the trade must list the actual picks being transferred.

In the inaugural cycle, a Basketball or Spring seat breaks into its individual round picks immediately after it is acquired. In later cycles, the seat breaks into individual live picks after the Day −1 final keeper and player-pool lock, when keeper placeholders and roster vacancies are known. Individual live picks may then be traded before and during the draft, including across the Basketball and Spring drafts.

No draft-pick freeze applies before a draft. A pick remains tradeable while it is on the clock.

Provisional selection entitlements. Before Day −1, individual numbered picks do not yet exist, but keeper trading under Section 4.6 runs from Day −7. A manager may therefore trade an unused round entitlement associated with their Foundation position or draft seat — "my Round 2 Foundation selection" rather than "pick 2.5." At Day −1, once final keepers are processed, each entitlement converts into the corresponding numbered live pick and transfers with it.

A traded entitlement is encumbered. Once transferred, it is reserved for the recipient and cannot subsequently be consumed by a keeper the seller adds. Every later keeper trade and reconsideration decision must preserve previously transferred entitlements. Without this, a manager could trade away a Round 2 entitlement and then declare a second keeper, which would consume the round they no longer own.

Only issued picks and provisional entitlements may be traded. Managers may trade selections in the current cycle's scheduled drafts, but may not trade speculative picks from a cycle whose Foundation order and seats have not yet been created.

4.5 Keeper placement in combined drafts

A keeper represents an asset already selected and therefore occupies one of the manager's earliest draft rounds, not a final-round selection.

In each combined draft:

• zero keepers means the manager begins making live selections in Round 1;
• one keeper occupies Round 1 and the manager begins making live selections in Round 2; and
• two keepers occupy Rounds 1 and 2 and the manager begins making live selections in Round 3.

This rule applies to the two possible football keepers in the Foundation Draft, the two possible Basketball Draft keepers, and the two possible Spring Draft keepers. Because the drafts combine two sports, keeper placeholders are based on the total number of keepers in that combined draft rather than being assigned separate rounds per sport.

Keeper placeholders are not tradeable picks. Only the remaining live selections are issued for trading after the Day −1 final keeper and player-pool lock.

4.6 Trading declared keepers and draft capacity

A provisional or final declared keeper remains tradeable. Keeper declaration establishes eligibility and draft cost; it does not create a no-trade restriction. The keeper designation, roster position, acquisition cycle, and remaining contract eligibility follow the asset to the receiving manager.

Every post-declaration keeper trade must remain draft-capacity neutral. In each combined draft, a manager's filled roster positions plus applicable unused selection entitlements must continue to equal that manager's legal draft capacity. The capacities are eight Foundation requirements, eight Basketball roster positions, and eight Spring roster positions.

When a manager trades away a keeper and opens a roster position, that manager must receive either:

• an unused selection in the applicable combined draft; or
• another eligible keeper or rostered asset that legally fills the vacancy.

The receiving manager must surrender corresponding capacity through an unused selection or an outgoing asset. A manager may never hold two declared keepers in the same individual sport.

Example: a manager trades the Bills keeper to another manager for Foundation pick 1.2 plus additional consideration. The seller receives 1.2 to fill the newly opened NFL position. The buyer receives Buffalo, and 1.2 supplies the selection capacity consumed by the keeper. The seller's former keeper placeholder does not also become an additional pick.

A same-sport keeper exchange, such as Bills for Seahawks, ordinarily needs no accompanying replacement pick because both managers retain the same filled roster and keeper capacity.

Before the Day −2 pool-changing trade deadline, a cross-sport keeper trade may require displaced keepers to be explicitly traded or released. Any released keeper enters the draft pool, its contract ends, and the releasing manager regains the appropriate live selection. Once the draft begins, no keeper trade may release a new asset into the player pool, create a retroactive selection, or invalidate an exercised pick.

After the Day −1 final pool lock and during the draft, pool-neutral keeper trades remain legal as long as they preserve keeper limits, draft capacity, the established player pool, and every already-exercised selection.

4.7 Surplus picks and roster limits

Owning a draft pick does not create a roster position. A manager may temporarily own more picks than open positions, but may exercise only enough picks to fill legal roster vacancies.

When a surplus pick reaches the clock, its manager must:

1. use it in a legal open roster position;
2. trade it before the pick expires; or
3. pass and permanently forfeit it.

A manager may not draft an extra asset, create a temporary bench, or draft-and-immediately-cut an asset to preserve a surplus pick. A forfeited pick receives no compensation and is not converted to FAAB.

4.8 Post-draft completion window

Each draft is followed by a completion window running Tuesday through Thursday of the week after the draft. It uses the same three-stage structure as an ordinary market window (Section 6). It exists because the sports a draft fills have not yet begun their seasons, so the weekly windows of Section 6.1 do not yet include them; without it, a manager who ends a draft short would be stranded until that sport's first game had already passed.

All undrafted eligible assets are available. Every manager may bid, including managers with full rosters seeking an upgrade; a full-roster manager must designate a conditional drop with the claim.

There is no guaranteed replacement for a missing draft pick. The available player pool and the manager's FAAB determine the result.

4.9 Draft administration

In-draft trading is allowed in all three drafts. Drafts may be conducted as slow drafts over one or two days.

The clock length, overnight pauses, and exact start time are event settings announced before each draft rather than permanent constitutional rules. Until an application automates the process, the commissioner's timestamped draft log is authoritative.

5. Keepers, contracts, and offseason rights

5.1 Keeper limits and contracts

There are keepers in all six sports. Each manager may keep up to one asset in each individual sport for the following cycle. Keeping is optional, so the maximum is six total keepers but no manager may keep two assets from the same sport.

Because at most one asset per sport can be kept, every manager must return most of the portfolio to the draft pool each year.

An asset has a maximum three-cycle tenure with one continuous contract:

• acquisition cycle; plus
• no more than two keeper renewals.

A traded asset retains its acquisition cycle and remaining keeper eligibility. Each keeper occupies its normal roster position and the earliest available round of the applicable combined draft, as described in Section 4.5.

A contract ends when an asset is dropped into the open process, released to a draft pool, or not retained through the keeper process. If that asset is later acquired through the open league process, it begins a new contract. The asset must genuinely be exposed to every eligible manager; private drop-and-return arrangements are prohibited as collusion.

Draft seats, individual draft picks, and FAAB do not have contracts and are not keeper assets.

5.2 Offseason keeper rights

When a sport's final eligible game or event becomes official, every rostered asset in that completed sport with remaining keeper eligibility becomes an offseason keeper right. This is the same rostered asset in an offseason state, not an additional token and not an automatic keeper declaration. An asset whose maximum three-cycle contract has expired enters the next draft pool instead.

Because a completed sport can no longer score, nothing traded during this period can affect the current cycle's standings. This is a pure future-capital market.

During the offseason-rights period:

• all eligible rostered rights may be held and traded;
• the normal sport roster maximum continues to apply;
• trades in a completed sport must balance within that sport — one-for-one, two-for-two — because there is no free agency to repair a vacancy;
• free-agent additions and waiver claims in that completed sport remain closed;
• rights may be traded for active assets whose own trade deadline remains open, other rights, issued picks, draft seats, or FAAB;
• prior points remain with the manager who earned them; and
• the contract and keeper eligibility follow the right through every trade.

An acquired offseason right is not automatically locked as the recipient's next keeper. It may be held, re-traded, or released through the formal keeper process. A released right enters the public draft pool and cannot be reacquired through offseason free agency.

To prohibit loan trades, an offseason right may not be traded back before the applicable draft to any manager who traded that right away during the same offseason. Conditional returns, undisclosed future consideration, and side agreements are prohibited. A former owner may still reacquire the asset through the open draft because every manager has the same opportunity to select it.

5.3 Keeper and pool-lock timeline

The following timeline applies separately before the Foundation, Basketball, and Spring drafts:

At Day −7, every offseason right not provisionally kept enters the preliminary draft pool and its prior contract ends.

During the 24-hour reconsideration window, a manager may retain or release a provisional keeper and regain the corresponding live selection. A manager may not directly replace that keeper with an asset from the pool. Final reconsideration choices are collected and revealed together at Day −1.

After the Day −1 lock:

• no keeper may be released into or removed from the established player pool;
• no trade may change the league-wide total number of declared keepers or add/remove an asset from the established player pool;
• draft picks, draft seats, and FAAB remain tradeable; and
• pool-neutral declared-keeper trades remain legal under Section 4.6, including during the draft.

6. Market windows

Adds and drops occur only during market windows: one a week, three days long. Outside a window, rosters change only by trade.

6.1 Schedule

A market window opens every Tuesday and runs Tuesday through Thursday, for every sport whose season has begun and whose acquisition freeze has not yet passed. This includes sports past their trade deadline.

Professional golf is in season from the Tuesday of THE PLAYERS Championship week until its acquisition freeze, and has a window every Tuesday in that span, event week or not. A golfer earns only in scoring events, so a golfer acquired between events simply earns from the next event they play; a between-events window lets no one rent an event they were not exposed to. In an event week, each golfer in the field locks at their first tee time under Section 7.1, so Thursday's open free agency reaches only golfers not yet teed off.

Each draft is additionally followed by a completion window under Section 4.8.

The commissioner announces one consistent processing time and league time zone before the inaugural draft. It may be changed only between cycles unless every affected manager agrees.

6.2 Window structure

The secondary batch exists so a dropped playoff contender is allocated by bidding rather than by whoever refreshes fastest.

No drops after Wednesday's batch. Adds only. This prevents a manager dumping an unwanted asset late in the window, where no rival can bid for it before the next window.

Three consequences of that, stated so nobody has to infer them:

• An asset dropped as the conditional half of a successful Wednesday claim is held until the next window. It has missed both batches, and drops are closed.
• After a sport's trade deadline, drops in that sport are held until the sport's season ends (Section 10.1). Those assets do not enter Wednesday's secondary batch.
• Only a manager with a legal vacancy may add on Thursday, since no corresponding drop is permitted. A full roster cannot make a Thursday upgrade.

Thursday free agency is first-come-first-served by timestamp. If two claims carry the same recorded timestamp during manual administration, rolling priority decides. Thursday closes at a fixed time announced before the cycle rather than at the first game of the day — "the day's first game" would close an MLB or NBA market in the early afternoon. Per-asset game locks under Section 7 continue to apply, so an asset whose game has begun is unavailable regardless.

An asset acquired in a window may be traded immediately but may not be dropped in the same window.

Note on rentals. The hold keeps an asset from being claimed in Tuesday's batch and dropped into Wednesday's. It is not what limits week-to-week rentals. The bonus-only postseason is (Section 11.2): the large awards go to whoever holds a team at its sport's acquisition freeze, so a roster is ultimately judged by what it holds then. Each freeze falls when that sport's regular season ends (Section 10.2), before any postseason game, so a manager streaming teams for marginal regular-season wins spends FAAB and gives up assets that are needed to hold contenders at the freeze. This note is recorded so that a future amendment does not tighten the hold believing nothing else protects against streaming.

There is no weekly lineup submission. All legally rostered assets are active.

7. Game and event locks

7.1 Rostered assets

A rostered team locks when its next game begins. A golfer locks at the golfer's first tee time in a scoring event. Once locked, the asset may not be dropped or included in an immediately effective trade until that game or event is official.

This is an asset lock, not a whole-roster lock. Other unlocked assets remain movable.

7.2 Unrostered assets

An unrostered asset does not remain locked merely because it played earlier. It may be acquired later and begins earning points only from the acquisition timestamp forward. It receives no points for games or achievements completed before acquisition.

Once the newly acquired asset begins its next game or scoring event, it locks normally.

7.3 Ownership of points

Points stay with the manager who owned the asset when the applicable game, event, or achievement became official. Previously earned points never follow an asset through a trade, waiver claim, or free-agent acquisition.

Transactions never apply retroactively.

8. FAAB and waivers

8.1 Rolling FAAB wallet

Every manager receives $250 at each Foundation Draft — a single grant covering the whole cycle. No FAAB arrives at the Basketball or Spring Drafts. A manager in their first cycle receives the same $250 at their first Foundation Draft as every other manager; there is no different first-time amount. A replacement manager admitted mid-cycle inherits the departing manager's wallet under Section 12.3 and receives no grant until the next Foundation Draft.

FAAB is a single wallet spanning all six sports and all cycles. Money belongs to the manager, not to a sport or a season. When two sports have windows open on the same Tuesday, they compete for the same dollars; this is an intended allocation decision.

A manager's FAAB wallet may not exceed $500 — two cycles' grants. The Foundation grant increases the wallet only to the ceiling; any excess is forfeited. Because the grant arrives in one deposit, a manager carrying a large unspent balance into a Foundation Draft forfeits part of that grant. Under weekly windows this is intended, not an oversight. A trade that would place a manager above the ceiling cannot process. The ceiling remains provisional.

Unused FAAB never expires. FAAB may be included in trades. Bids use whole-dollar amounts and may not exceed the manager's available balance when processed. Zero-dollar claims are permitted.

There are no season-long or sport-specific acquisition limits, and no per-roster-position weekly lock.

The grant and the ceiling are provisional. Weekly windows mean many more claims than monthly ones would have, all drawn from one grant made in August, so a manager who spends freely on football has less for the spring sports. That allocation is intended. The first cycle under weekly windows will price both values.

8.2 How a FAAB batch processes

A manager may submit more claims than their balance or roster capacity can support. The batch resolves deterministically:

1. Managers rank their own claims in the order they want them attempted. An unranked claim is attempted last.
2. The highest unresolved bid across the whole league processes first, regardless of whose it is. Ties at the same dollar amount are broken by rolling priority under Section 8.3.
3. After each award, balances and roster capacity update. Any claim that has become illegal — insufficient funds, no legal roster position, or its conditional drop already consumed — is skipped, not reduced or deferred.
4. Repair claims attached to a trade are attempted in the manager's stated order before their ordinary claims, so a mandatory repair is not lost to a discretionary upgrade.
5. Alternative claims may share a conditional drop. Once that drop is consumed by a successful claim, every other claim depending on it is skipped.

Worked example: a manager with $100 ranks the Bills at $80, the Eagles at $70, and the Rams at $25. If the Bills claim wins, $20 remains, the Eagles claim is skipped as unaffordable, and the Rams claim is attempted at $25 — also unaffordable, and skipped. If the Bills claim loses to a higher bid, the Eagles claim is attempted with the full $100 available.

Losing bids cost nothing. A manager keeps their entire balance except for what a successful claim actually spends.

8.3 Waiver tie priority

FAAB amount decides every claim first. Rolling waiver priority is used only when two or more managers submit equal winning bids, and to order Thursday open-free-agency claims that share a timestamp.

Priority is a single league-wide rolling order, randomized before the inaugural Foundation Draft. It never resets based on standings — reverse-standings priority would reward being bad. A manager who wins a tied claim moves to the bottom of the priority list; managers passed over move upward. Successful uncontested bids, free-agent additions, and trades do not alter priority.

If a manager wins more than one tied claim in the same processing run, priority is recalculated after each award.

9. Trades and roster repair

Managers may trade rostered assets, issued draft seats or picks, and FAAB in any combination. Cross-sport trades are legal and encouraged.

There are exactly two kinds of legal trade.

9.1 Roster-neutral trades

Both managers end at the exact required count in every sport the trade touches. These process at any time, with no window required, until the applicable sport's trade deadline.

This is a rule about counts, not value. A cross-sport trade works by pairing: send the Dodgers and the Titans, receive the Rockies and the Chiefs. Both managers keep three MLB teams and three NFL teams while real value moves across sports. Draft picks or FAAB may be added to either side to settle the difference.

A bare one-for-one across sports is illegal, because it leaves a manager short in one sport and above the maximum in another. No trade may ever leave a manager above a sport's maximum.

9.2 Repair trades

A trade that would leave a manager short processes only during a market window in the sport where the shortfall falls. The receiving manager may pair the trade with FAAB claims against their projected post-trade roster, and both process together in Tuesday's batch.

A repair trade spanning multiple sports requires a window open in every sport in which either manager would finish short. If those windows do not overlap, the trade remains pending until they do, or must be restructured as roster-neutral. Because every in-season sport has a window every Tuesday, this now arises only when one of the sports is out of season or past its acquisition freeze.

Overages must be eliminated; shortages need not be. A repair trade may include mandatory conditional drops to remove roster overages and conditional acquisitions to repair shortages. All necessary overage drops execute with the trade. No trade may process while leaving a manager above a sport's maximum.

A failed acquisition claim does not cancel the trade. The trade processes and the manager carries an empty position until it is filled — in Wednesday's secondary batch, on Thursday, or in any later window. Under Section 2, an empty position scoring zero is the whole penalty.

This is what makes a genuinely uneven cross-sport trade possible. Two NFL teams for one NBA team leaves the sender two NFL short and one NBA over, and the receiver two NFL over and one NBA short. Both overages are cleared by conditional drops that execute with the trade; both shortages may be repaired by paired FAAB claims, and survive as vacancies if those claims fail. Without this rule, every cross-sport trade would have to be paired — NFL plus NBA for NFL plus NBA — which is not the trading the format is built for.

9.3 General trade rules

If any rostered asset in an accepted trade has already locked, the entire trade remains pending until that asset's game or event is official. A pending trade is atomic: no portion transfers early. A trade involving an asset under a sport-wide postseason freeze is invalid rather than pending.

An acquired asset remains tradeable until it locks. Offseason-rights and declared-keeper trades are additionally governed by Sections 4.6 and 5.

Trades are not subject to a competitive-balance veto. The commissioner may reverse a trade only for collusion, a rules violation, or a clearly documented input error.

10. Trade deadlines and postseason acquisition freezes

10.1 Trade deadlines

Trading in a sport closes at approximately 75% of that sport's regular season. The commissioner publishes the exact date before the sport begins.

This follows the professional-league model, and exists so that a trade is a bet on how a season will finish rather than a purchase of an already-decided postseason field. Without it, the day before a freeze would be the most valuable trading day of the year: every qualifier is known, and an eliminated manager could sell an entire postseason field to a contender for future capital.

The deadline is computed in games played, not calendar weeks. It falls on the first date by which 75% of that sport's regular-season games are complete. Counting games rather than days matters because college football and MLB schedules thin out badly at the end of a season, so a date-based calculation would land in a different place.

Professional golf is the exception, since five scoring events do not divide into a regular season: golf's trade deadline is before the U.S. Open, leaving the final two events untradeable.

The commissioner publishes the exact date for each sport before that sport begins.

Golf's deadline is set by event count rather than calendar, since five scoring events do not divide into a regular season.

After a sport's trade deadline, no trade may include an active rostered asset from that sport. Trades containing only FAAB, issued picks, draft seats, offseason rights from completed sports, or assets from sports whose deadlines remain open may continue.

After a sport's trade deadline, drops in that sport are held until the sport's season ends. Otherwise a manager could drop a postseason team for a rival to claim — precisely the transaction the deadline exists to prevent. Adds continue normally until the acquisition freeze.

A post-deadline drop takes effect immediately for roster and scoring purposes — the manager no longer owns the asset and no longer scores it. What is held is the asset's availability: it stays out of the acquisition pool until the sport's season ends, then enters the next draft pool without offseason keeper eligibility, since its contract ended when it was dropped.

10.2 Acquisition freezes

Every sport's acquisition freeze begins when its regular season ends. From that moment, every asset in that sport is frozen: no new adds, drops, waiver bids, or trades are allowed, but scoring continues through the final eligible game or event.

"The end of the regular season" means, for each sport:

Conference championship games and conference tournaments are postseason. They award no per-game points (Section 11.2), only the conference-title bonus, which is how the postseason is scored. So college football freezes before conference championship weekend, and college basketball before the first conference tournament tips off — both earlier than under version 2.6, which froze them at their selection shows. A regular-season game a sport schedules after that point is played after the freeze, and still scores per-game for whoever holds the teams: Army–Navy, played the week after conference championship weekend, and in college basketball the last regular-season games of the conferences whose tournaments start later than the first. Professional golf has no regular season apart from its events, so its freeze is unchanged.

Why. Under version 2.6 each freeze was the first postseason game. A sport's playoff field is set when its regular season ends, and the NFL's freeze came six days after that — Week 18 ends January 10, 2027 and the wild-card round began January 16 — leaving a Tuesday window in which a manager could claim a team already known to be in the playoffs. The trade deadline already prevented buying one by trade; the FAAB claim was the other door, and freezing at the end of the regular season closes it. MLB and the NBA had the same gap at two or three days. The college sports never had it in the same form, since their freezes preceded the bracket, but their conference postseasons sat inside the gap: a manager could claim a team during a conference tournament and collect its title bonus.

Waiver claims entered before the freeze remain valid and process normally, but bids may not be created, withdrawn, or changed after the freeze. No transaction applies retroactively.

Because conference championship games and conference tournaments fall after the freeze, no team can be acquired during them. If the eventual national champion is unrostered when the acquisition freeze begins, that team remains unrostered and its later points are not awarded to any manager.

After a sport's final eligible result becomes official, offseason-rights trading opens under Section 5.2.

11. Scoring

The six sports are scored as six separate competitions. A manager's rostered assets in a sport combine to create that manager's sport total. Points are never compared across sports.

11.1 Regular season

For all five team sports:

All games count equally, including FBS-versus-FCS games and non-CFP bowl games. The NBA Cup championship game scores as an ordinary regular-season game.

11.2 Postseason

Postseason games award no per-game points. Instead, teams collect achievement bonuses, which stack — a team collects every bonus it qualifies for.

The top-seed bonus is paid only where the format actually grants a first-round bye. College football awarded no byes under the four-team CFP through 2023, so no top-seed bonus is earned in those cycles. MLB's bye seeds date from the 2022 format change; before that, a one-game Wild Card round gave all three division winners per league a bye, so six bonuses were paid rather than four.

National postseason means the College Football Playoff, the NFL playoffs, the NBA playoffs, the NCAA Tournament, and the MLB postseason. Conference championship games and conference tournament games are not national postseason, and they award no per-game points either. Like bracket games, they are scored by achievement bonus only — the CFB conference title bonus and the CBB conference tournament bonus. They count toward a team's displayed record but contribute no points otherwise.

This is deliberate. A conference tournament run varies in length, so per-game scoring would pay a team for playing more games rather than for beating better opponents. A deep run would be worth roughly 41% of college basketball's entire 1st-to-25th regular-season spread, and a weak-conference run would pay nearly as much as a strong one.

Non-CFP bowl games are the single exception that scores per-game. A bowl is a standalone exhibition rather than a bracket round, so a bowl win scores as an ordinary win under Section 11.1.

NBA Play-In games award no points at all. They are bracket games in everything but name. Without this, a No. 9 seed could win one play-in game, lose the next, miss the playoffs entirely, and still out-earn a top-six seed's qualification bonus.

An achievement bonus becomes official at the moment the achievement is completed — when a division is clinched, when a seed is finalized, when a round is won. Like all scoring, bonuses are prospective: a manager who acquires a team after it has clinched its division receives that team's future points but not the already-earned division bonus, which stays with the prior owner.

NBA play-in participants who do not advance earn nothing for qualification; the bonus goes to the sixteen teams that reach the playoffs. The NBA has no division-title bonus, since it seeds strictly by conference record. College basketball's conference bonus goes to the tournament winner, not the regular-season champion. First Four wins, and all NIT, CBI, and Crown results, score nothing.

11.3 Golf

Golf scores five events: THE PLAYERS Championship, the Masters, the PGA Championship, the U.S. Open, and The Open Championship. There are no bonuses.

Ties split the sum of the positions they occupy. Three golfers tied for 2nd share (15 + 12 + 10) ÷ 3 = 12.33 each, and the next golfer finishes 5th.

A golfer scores zero for any event they do not enter or are not eligible for. Ineligibility for a scoring event is a cost the drafting manager accepts.

Draft eligibility. A golfer is draftable if listed as a professional by the league's designated golf data provider at the draft-pool deadline, regardless of tour affiliation. The commissioner publishes the eligible list before the Spring Draft. This is deliberately mechanical — "all professional golfers" would otherwise include anyone who turned professional the previous week with no route into a scoring event.

11.4 Standings

Each sport's finishing order awards overall standings points:

1st — 6 · 2nd — 5 · 3rd — 4 · 4th — 3 · 5th — 2 · 6th — 1

The six sport awards are added together to determine the final overall table.

If two managers tie exactly within a sport, they split equally the standings points assigned to the occupied finishing positions. Calculations retain full precision; displays round to two decimals.

If managers tie in final overall standings points, the tiebreakers are:

1. most individual sport wins;
2. most second-place sport finishes;
3. most third-place sport finishes, continuing through all places as needed; and
4. a shared overall finish if still tied.

There is no championship game or playoff tiebreaker.

11.5 Scoring status

The values in Section 11 are adopted, having been backtested across 34 sport-cycles. They are nonetheless first-cycle values and may be revised between cycles under Section 14.

Backtesting ranked every real-world team against every other team in its sport-cycle — an asset-level test, not a test of six-manager portfolios. It showed 27 of 34 champions finishing first in their sport, distributed unevenly: college basketball 6 of 6, college football 6 of 6, NFL 5 of 6, NBA 7 of 11, MLB 3 of 5. The college sports are decided by their tournaments; the professional sports are not, because 82- and 162-game seasons generate more separation than any bracket can overcome. In every exception, the champion held the largest postseason bonus in its sport-cycle and still lost on regular-season points. This is accepted behaviour rather than a defect.

No MVP, Rookie of the Year, or similar individual-award bonuses are included unless later adopted.

12. Absent and departing managers

A cycle runs roughly fourteen months. Over that span someone will miss a draft, go quiet for a stretch, or leave the league. These rules exist so that neither the standings nor the commissioner's patience depends on everyone staying engaged.

12.1 Missing a draft

A manager who cannot attend a draft may supply a ranked queue to the commissioner in advance, which is used for their selections in order, skipping unavailable assets.

A manager who supplies no queue and misses their pick is autopicked: the highest-ranked available asset for a position they still need, by the preseason ranking source published before that draft. The draft does not stop and the clock does not extend.

12.2 Inactivity during a cycle

Missing market windows is not a violation. A manager who never bids simply keeps their roster and their FAAB, and there is no penalty — an unmanaged roster still scores, which is the point of a game with no lineups.

Inactivity becomes a problem only where it blocks other managers: an unanswered trade offer expires on its own terms, and a manager who fails to designate a required conditional drop has that drop made for them by the commissioner, taking the lowest-scoring asset in the affected sport.

12.3 Departure and replacement

If a manager leaves, the entire franchise transfers intact to a replacement manager. Nothing resets. The replacement inherits:

• every rostered asset, with its contract and remaining keeper eligibility;
• the FAAB wallet at its current balance;
• all draft picks, seats, entitlements, and offseason rights;
• the waiver priority position; and
• all points already earned in the current cycle.

A replacement is admitted by four of six of the remaining managers. If no replacement is found, the commissioner administers the franchise using the autopick rule in 12.1 for drafts and no discretionary transactions otherwise — the roster continues to score, but it makes no claims and accepts no trades.

Financial terms, if the league uses them, are a separate annual league setting rather than a constitutional matter, and any refund or buy-in question travels with the franchise transfer.

13. League scope and expansion

Version 2.0 contains only the six listed sports. No sport is added during an active cycle. Expansion may be considered between cycles after the initial format has been tested.

14. Administration and amendments

The commissioner maintains the official roster, transaction, draft, FAAB, contract, and scoring logs until an application assumes those duties. Timestamped records should be visible to all managers.

Official league, association, tournament, or recognized statistical-provider corrections flow through to Sportfolio totals. The commissioner may correct clerical or data-entry errors without a vote.

Amendment thresholds:

A change counts as "between cycles" when it applies exclusively to a future cycle whose Foundation Draft has not begun, even if a prior cycle is still active. Cycles overlap by design — the Foundation Draft runs in August while the previous cycle's MLB season is live — so there is almost never a moment when no cycle is running. Without this definition, the four-of-six and five-of-six thresholds could never be used.

Scoring for an entire cycle locks when that cycle's Foundation Draft begins. After that moment, any scoring change affecting the cycle requires unanimity, even for a sport that has not yet started. Basketball and Spring draft seats are bought in August on the strength of how those sports will be scored; allowing a four-to-two scoring change the following February would devalue an asset after it had been paid for.

Precedent: the version 2.6 and 2.7 amendments. Weekly market windows and the single $250 grant (2.6) were adopted mid-cycle, during the inaugural 2026 cycle, and applied to that cycle from the October 13, 2026 window, with the 2026 Foundation grant restated as $250. The end-of-regular-season freeze (2.7) followed in the same week and applies to every 2026 freeze, none of which had yet arrived. Each was a substantive change during an active cycle, and each passed because the commissioner was then the only manager making the rules, so unanimity was trivial. Neither is a model for later cycles. From cycle 2027 the unanimity requirement operates normally, and substantive changes in the middle of a cycle are expected to be rare.

When an unforeseen situation is not covered, the commissioner makes the narrowest temporary ruling needed to keep play moving. The league votes after the affected market window on whether that ruling should become permanent. A commissioner ruling may never retroactively alter finalized points, except to apply an official statistical correction or fix a documented clerical error.

15. Multiple leagues and global leaderboard

The Sportfolio platform may host any number of independent six-manager leagues. Each league maintains its own drafts, rosters, ownership history, transactions, FAAB, scoring, and standings. The same real-world asset may be owned once in each separate league.

An optional global leaderboard may compare managers across leagues for the same Sportfolio cycle. It does not affect any league's official standings, prizes, draft order, or keeper rights.

Only leagues using the standard Sportfolio scoring rules are eligible for direct global comparison. The leaderboard should display both:

• overall standings points earned inside the manager's own six-manager league; and
• a cross-league performance rating based on the manager's percentile in each of the six individual sports, averaged across those sports.

This separates league success from raw portfolio strength.

If one person participates in multiple leagues, each league entry is ranked separately, with an optional profile view summarizing those entries. Public leaderboard display should use each manager's chosen display name.

Version 2.7 decisions in one page

• Six managers and 22 fixed roster positions; college basketball carries five.
• Three combined drafts: Foundation/Football (snake, 8 rounds), Basketball (straight, 8 rounds), Spring (straight, 8 rounds).
• All Basketball and Spring draft seats are redrafted in every annual Foundation Draft.
• One optional keeper per sport, occupying the earliest rounds of its combined draft, with acquisition year plus two renewals.
• Keepers use a Day −7 provisional declaration, Day −2 pool-changing trade deadline, and Day −1 final pool lock; declared keepers remain tradeable through draft-capacity-neutral transactions.
• Market windows every Tuesday, Tuesday through Thursday, for every in-season sport, plus a completion window after each draft. Golf is in season from THE PLAYERS week to its freeze, with a window every week, event week or not.
• Window structure: Tuesday primary FAAB batch, Wednesday secondary batch for Tuesday's drops, Thursday open free agency first-come by timestamp. No drops after Wednesday; only managers with vacancies may add on Thursday.
• $250 FAAB at each Foundation Draft, one grant for the whole cycle, the same for a manager's first cycle as every other; nothing at the Basketball or Spring Drafts. One rolling wallet capped at $500, spanning all sports and cycles. Grant and ceiling provisional.
• An asset acquired in a window may not be dropped in that same window; from the next week's window it may be.
• Waiver priority is a single rolling league-wide order, randomized at league start, never reset by standings.
• Two legal trade types: roster-neutral (any time, no window) and repair (window only, in the sport where the shortfall falls). Overages must be cleared by conditional drops that execute with the trade; a failed repair claim does not cancel it, leaving a vacancy instead.
• An empty roster position scores zero, and that is the entire penalty.
• Trade deadlines at 75% of each sport's regular-season games, counted in games rather than weeks; golf's before the U.S. Open. Post-deadline drops are held until the sport ends.
• Acquisition freezes when each regular season ends, defined per sport. Conference championship games and conference tournaments are postseason, so college football freezes after rivalry weekend and college basketball at its first conference tournament game. Golf's freeze is unchanged.
• An unrostered eventual national champion remains unrostered after the freeze.
• Prospective scoring only; points already earned remain with the former manager.
• Scoring is adopted: win = 1.0 + margin ÷ 100, bonus-only postseason, flat golf placement curve, 6/5/4/3/2/1 standings conversion. Non-CFP bowls are the one postseason game that scores per-game; NBA play-in games score nothing.
• Scoring for a cycle locks when that cycle's Foundation Draft begins; changes thereafter require unanimity.
• Round entitlements are tradeable before Day −1 and convert to numbered picks at the lock; once traded, an entitlement is encumbered and cannot be consumed by a later keeper.
• A change is "between cycles" if it applies only to a cycle whose Foundation Draft has not begun.
• A repair trade spanning multiple sports needs a window open in each sport where a shortage would land.
• Cycles end after the World Series, even though the next football cycle may already have begun.
• No league playoff or championship event; the overall table is final.
• FAAB batches resolve highest-bid-first across the league, with managers ranking their own claims and illegal claims skipped rather than reduced.
• A departing manager's franchise transfers intact — roster, FAAB, picks, contracts, priority, and earned points.
• Golf draft eligibility comes from the designated data provider's professional list at the pool deadline.
• Independent six-manager leagues may participate in an optional cross-league leaderboard.

Implementation note

The scoring code defaults to play_in_mode='per_game'. Section 11.2 requires that NBA Play-In games score nothing, so any application or analysis run against this constitution must set play_in_mode='none'. Bowl games are unaffected — bowl_mode='per_game' is both the code default and the adopted rule.