I'm playing Imperium: Arena of Death, a gladiator management game by Derek DiBenedetto and Grey Dog Software.
A team of three warriors will fight the opposition, undergo training, and go on quests. Fighter stats change over time, and contracts are negotiated at the end of each season. Combatants can be helped with purchased potions, favors, and promotion. The fights are text-based, giving descriptions of the action as the health ratings tick down and mid-fight strategy adjustments are made. Although it features a unique setting, Imperium: Arena of Death lacks the depth of other management titles.