I’ve just had this come through Sega:

We’re very pleased to announce that on July 6th 2009 we launched a brand new and exciting feature of Football Manager Live. [..]

Luckily for me over the past few weeks I have been been beta testing the next version of Football Manager which is Football Manager Live (FML). I have to say that while it’s still buggy (it’s beta after all) I have been pretty impressed with it so far and am slightly scared at how much of my freetime I expect it will eat up. [..]