1)Form a committee with one representative from each team to help in the management of the league. In this format, you may want to elect a Board of Directors or an Executive Committee for the league. The committees decide on the cost for each team to participate in the league to make sure all the expenses are covered.
2)Choose a league operator to run your league. Each team would pay a fee (usually in the range of $175 to $300 depending on the expenses involved) to the league operator and the league operator does all the work: publishing and updating the schedules, managing the league, planning tournaments, league championships, etc.