The USFL does. We have fictional teams, but use real players. Our initial draft was held this last Saturday. I'll leave some links below and I should mention that there are some good teams currently available.
USFL Website
http://home.comcast.net/~ashmunes
USFL Board
http://theusfl.proboards25.com/index.cgi
Commish E-mail
[email protected]
My E-mail if you want more info
[email protected]