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That's all it does, and IIRC it basically doesn't matter how low leagues are related to the top league, unless you have a bunch of leagues. In other words if you have MLB at 10, Japan at 5, and the Pecos League at 1, it doesn't matter if Japan is 7 or 3 or 5. So unless you have 8 or more leagues don't waste much time deciding on rankings.
I think it also determines where leagues appear on the league pull-down menu(s).
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