So, I have never played Blood Bowl: Team Manager and was looking for something a medium-sized gaming group could play once a week.  Blood Bowl appeals to me because of its football nature (playing once a week), it just seems like a natural fit.

I was wondering if there is a way to play Blood Bowl as a league similar to real football, where you draft players for your team, play one game a week against an opponent, then track your teams record as you go?  Is this possible?

Not without a lot of modification.  The game is really designed to be played in 60 mins. with 2 -4 players.  I guess you could come up with rules for drafting Star Players and adding them to your inital 12 players.   Hmm.  Well you could convert Fan points from one game session into draft points for Star players for the next game.  So 5 fan points = 1 star point.  Once you draft the player they become part of your team roster from game to game.

Maybe that should be the next expansion.  "Road to the Blood Bowl" with upgrade cards that let you trade or force trade players.  Sorry I'm getting off topic. 

Yes, you could come up with a draft for Star Players, but it would take some work.