You will need a transfer kit and memory card. Or you can go to a roster site, have them send you a memory card for a fee.
Unless I'm missing something, I'm not too happy that you can't create a team for use in dynasty mode. I always create my old school as a cupcake and turn into a powerhouse. Unhappy is an understatement.
you're mine mister tinman, I got the game and am on right now, gamertag 'kepow88' I get to use UT though, I have seniority over you