SIM teams are teams without a human owner. They are run by the SIM until someone comes along, purchases the team, and makes it their own.
Each SIM team is run by a simulated-GM (SIM GM), who works throughout each season to keep the team in the black, tailor it to the GMs own unique vision, and hopefully build a winner.
SIM teams will participate in signing free-agents, extending players, placing players on the trade block, and making trades.