Okay so we all no by now that fantasy draft won't be implemented into CC Mode for Madden 13 which is a bummer. However, I think there still may be ways to work around outside of Madden to get this to work. Under this I'll list my idea for how to do a fantasy draft and feel free to post any of your own ideas/methods or comment on mine.
Basically I have two ways to go about getting the fantasy draft to work in Madden 13, the first step to either method would be to run your fantasy draft outside of the game on a forum or spread sheet or something of that nature. Use a random number generator to determine the draft order. If you have 32 people for your league obviously everyone just selects for themselves, if their will be CPU teams then the Commish will have to select for those teams, and you go in snake order until all the teams fill their roster and meet minimum requirements.
Next, the first (easiest) way would be to toggle salary cap off (if this is an option for CC I'm not sure yet) and cut as many players from each team as it will let you (obviously you can't go under min requirements) and sign them to their new team that drafted them. Once you've done that, cut as many more player from their original team (since you have signed some of the players to their correct team, you can now cut more players that aren't supposed to be there because the new players will fill min requirements) as you can and put them on their new team. Repeat that as much as you can and then use the trade mechanics to get any stragglers on their correct team until your rosters are correct. Then you would toggle salary cap back on and run your league as usual.
The second way to go about it would be if their was no toggle salary cap implemented into CC Mode. In this case you would have to use an outside website (such as XFN) and turn off salary cap there. Then you would do the same sign/cut/trade strategies I described above, but this time from the website. Again once you got the rosters correct, turn salary cap back on and business as usual.
Let me know what you guys think