OS just posted a preview of franchise and online franchise modes. Looks like you can limit teams so if we're having a hard time filling up 32 owner we may want to cut it off at 24 and hopefully you can choose which teams will be left out of the league. Here's what OS says about online franchise.
Let me quickly go over the options for Online Franchise. For anyone that didn't know, you can't adjust sliders for online franchises.
Create Online Franchise
Franchise Name (Up to 21 letters)
Team (Pick your team here)
Max Users (2, 4, 8, 12, 16, 24, 32)
Fantasy Draft (On/Off)
Game Skill (Rookie, Pro, All-Pro, All-Madden)
Quarter Length (1-15 minutes)
Accelerated Clock (Off, 15, 20, 25 seconds)
Acccelerated Presentation (On/Off)
Trading (On/Off, On - No CPU Trades)
Game skill, quarter length, accelerated clock
Post news for the rest of the players to see
Send/view chise invites view pending
Promote to commish
Boot from franchise
Looks like u can join up to 5 OL franchises
You can't change the camera angle in online franchise, not sure if you guys were aware of that.