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Once all human managers have downloaded and uncompressed the league file into their save folders, they should change their password (on the manager options screen) and can then begin to make changes.
It is not possible for individual owners to make trades or hire staff - requests to do this must be passed to the commissioner (via email or some other form of communication), who, if he approves, makes the moves manually via the edit button.
Once a player is finished with his moves, they need to go to the Manager Menu >> Manage Online League screen and use the create button to create their teamfile, then upload button to upload the file to the commissioner.
The commissioner then merges all of these files, makes any requested trades or signings, simulates a number of days agreed upon by the league members, and then creates a new save file and releases it to the owners, beginning the process again.