Gridiron Legends (http://www.gridiron-legends.org/HTML/) has a few teams available for those interested in joining a unique opportunity. Gridiron Glory (www.gridiron-glory.org) is THE standard when it comes to a BBCF-based college football league. Legends takes the players from the Glory universe and enables owners to continue their careers in the professional ranks using Pro Football Simulator. We have years and years of history being built up, and owners will have a chance to draft the most recent class of Glory players. With 100 or so owners in Glory, Legends coaches are ensured of a rich and diverse storyline as well as deep draft classes.
The USFL (http://www.theusfl.org) has a few teams open as well. The league is based on the Pro Football League that ran in the 1980's as it tried to rival the NFL. We have over 14 seasons of simulated history, and just finished up our first full season of play online. We are currently beginning our rookie draft, which also consists of players from the above mentioned Gridiron Glory college football league.
To join either of these great leagues, owners will need a registered copy of PFS, and will need to register on the forums over at Total Sports World.