Cross-Post from the Yahoo Page:
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How do you guys work keepers? In the league I commish, you can keep one player drafted in round 6 or later, and you have to keep that player on your roster for the entire season. The keeper costs you whatever round they were selected in the previous season. So if I selected Mike Williams in the 7th round last year, I can keep him and I give up my 7th round pick this year. We only get to keep that player for one year, then the keepers reset with the next draft. Free-agent pick-ups during the season are not eligible to be keepers. I hope that makes sense.
The reason we do it that way is to keep the top of the draft fresh and reward owners for taking risks on players later in the draft that may have long term value. We reset it to keep the league competitive and stop owners from hoarding all the best players from year to year. Some owners in my league won't have any keepers because they didn't draft wisely last year (or hold on to their players through the season), while another owner is choosing between Jahvid Best in the 6th and Big Ben in the 10th as his keeper.
It appears that you guys select 2 players, and you keep them over multiple years. Since I'm not here to debate policy, I'll just roll with it. Are there any consequences to a person's draft depending on their keeper? I read that someone is wanting to keep Adrian Peterson (again), so will that cost him more than someone keeping a more marginal player? That will greatly influence who I keep from my team.