Right.. you get a million quid and a list of players. You pick a team no more than three players from any one team are allowed. You try not to burst your budget, so you have some really expensive players and some cheap ones, or you have a mediocore team of mid priced players, depends how you wanna play.
Then you pick up points for goals, assisted passes, saves, etc. Some boffin sits and works out each week how many points per player, then awards your team.
Most points wins!