How about this:
iStorya Fantasy Basketball Keeper League - @
lunateec22's league
iSTORYA.net Fantasy Basketball Open - @
KE-25's league
I think it's better to acknowledge what type of game on the thread to minimize confusion. By the word "keeper league", first thing people will think it's more of a serious tournament.
When we say "open" by definition, a league is not restricted to any particular group of players. Anyone can join. I put iSTORYA.net cuz' its commissioner is one of the mods here, so he gets the right for that full site name. Plus, he's a moderator, for me that would automatically be a forum-sanctioned (online) event.
The idea I have in mind is that we could use the open tournament as a prerequisite for interested players to join the keeper league. A new forumer who's very unfamiliar in our forum and wants to join the keeper league, the commissioner will ask him or her to play on the open first - let's say the open tournament serves as a screening test before he/she can take over one of the future inactive teams or be on the waiting list.
My 2 cents.