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Keeper renewals are made available after the season opens, in early June. This is for teams that are currently in their second season or beyond. If this is your first Keeper year, you have already paid for year two so you will not be renewing.
For years two and beyond, you will be required to pay a yearly fee in advance to keep the Keeper League going. The price will be approximately the price we charge users for a regular Ultimate game, with typically a small discount because it is purchased in advance.
So, for those who enroll in a Keeper and continue with that Keeper, all you are doing is just paying the annual fee (one season) in advance.
If you decide that you do not want to continue your Keeper League next year, you will not have to pay any additional monies for that Keeper League that year. If a majority of the teams in league fail to renew, that league will cease to exist at the end of that year and will not continue as a Keeper League.
If only a few teams do not renew in the league, then you can try to find a replacement, or ask BBM to help you.