Electronic Arts today unleashed the “Madden ‘10 Franchise Companion App” for iPhone and iPod Touch allowing Madden-fans the ability to stay 100% connected with their teams on the go. And the best part? It’s free.

The App, available today in the App Store and on iTunes, lets Madden fans check out the latest standings, league news, propose and accept player transactions, set their depth charts and more for their Franchise.

According to EA, over 200,000 franchises have already been created, so least some of you have an iPhone/iPod Touch right? EA thinks so.