Beep...
Well, it might well be wanky paperwork, BUT:
1) IF you are serious, I could probably do this sort of stuff in my own time. I'm currently training to be a solicitor anyway, so its extra practice for me
Multi-national payments aren't a problem either really...
2) As Bluey pointed out, once people are asked to hand over money, they will have expectations about your availability to sort a problem if something goes wrong, to act as a referee in cases of dispute etc etc etc etc. Do you, and the other league admins, have the time for this? Given how you're all always telling us about your irl commitments?
And I imagine people's expectations will be in inverse proportion to what they contribute in terms of cash. People handing over a quid or so are likely to expect shit-hot servers, given that the current 3 are free, and still largely playable. IF they are UK based, well, hardware is cheap here, but you tend to be shafted price-wise on any kind of hosting/connection/network provision stuff in the UK, and the reason for that is most providers have sunk large amounts of capital into installing infrastructure, but haven't really thought about how to generate money from it. Lets face it, if you stripped out the p2p music "sharing" and pr0n surfing, networks everywhere would be vastly under-utilised. Although, there's a point - why not have a League Porn pay-site? People do seem willing to pay for porn, if nothing else, and that would *surely* rake in enough cash to keep the gaming side of the League nice and dandy?
3) Suppose a parent finds their kid has been paying money to some guy(s) in another country, no matter how little, and the parents decide to kick up a fuss? Unlikely to happen, but still... Once you start taking in money, you start to be bound by legal obligations, whether you like it or not.
Don't get me wrong, I'm not trying to sink the idea. I'm just pointing out some of the nitty gritty stuff which could arise...
*aside to Cece: My last post made SENSE??? [what was I doing wrong?
]*