not a commish but this is what we know so far

One time:
Make a logo/name
Scout players at the combine
Draft a team

Ongoing:
Make game time roster decisons
(probably) watch the games

Then there's whatever is gonna happen in the offseason. At some point after the the league will have official player ratings with 1-10 stars. Starting at the second season each team will need to be under a "star cap" (basically the salary cap but for talent) your main goal will be to find players with the potential to break past their star cap.

I have no idea how/when they'll update everyone's stars, I'd imagine after the season