So a prospect is someone that didn't get drafted and meets those criteria? Like I'm sure Petterson and Chabot will get drafted, but if Dahlin goes undrafted he can be selected afterwards as a propsect? And we'll hold a Prospects Entry Draft after the League Draft?
They are game for the draft, unless anyone has strong objections
So say someone really wanted a strong group of 3, maybe they prioritize selecting Pettersson, Tkachuk, Cholowski in early rounds
say someone waits too long and all/ most of the guys who are regulars in the NHL are gone they end up with something like Evan Bouchard, Adam Boqvist, Ty Smith
They can stash one of those guys on N/A (I think? I don't know how Yahoo works fully) but would be carrying 2 guys on their roster who don't count towards their totals, would be a potential disadvantage, unless you wanted to be a rebuilding squad right out of the gate, in which case maybe you would rather not have guys playing just yet.
If a team waits late enough and doesn't have 3 by the time the draft ends, we would expect them to do some searching around in the FA pool until they had the appriopriate amount of 3.
In my league that we enforce this rule, there are also 12 teams and each team must have at least 5. On ESPN, there are enough for each team to comfortably have 6 or 7 (I am rebuilding in that league and currently carry 9 prospects) so I don't foresee any issue with there being enough players.
To reiterate the prospect criteria -
Player must have been taken in the last 3 NHL drafts (or maybe they went undrafted and fall into that age range) so 2016, 2017, 2018 NHL entry drafts
Player must have played less than 50 NHL games at the start of the NHL season. For example, Victor Mete is as close to aged out as you can get (drafted in 2016, played 49 games prior to 2018-19 NHL season). You can also roll with a newbie like B Hayton for the Coyotes who just got drafted in 2018 and has no NHL games played. Up to you, and we will all monitor to make sure everyone has 3 eligible guys on roster.