There isn't one as of yet,
This year is steam only, in previous years all that was needed was the original ISO. last year you could validate offline.
This year you must activate it via steam only, you must activate it with a internet connection. This is to stop pirating, and so far it is working, As it stands you need a valid CD key or just buy it from steam to run the game.
www.skidrowgames.net/ This is the person(s) who cracks steam only games. However the page for FM12 has been taken down and now you get redirected to a paste.bin page from the 21st October. I too am looking for this crack but I fear we may have a week or 2 wait before we get one.
Miles Jacobson has this to say about cracking it "Hi. Miles here. This year our efforts against piracy are crack-proof. So, the only option for you guys is buying the game. I’m sure skidrow can´t crack this game. I´d pay a million pounds to see that!"
However this has laid down a challenge to all the people who crack games, with some more determined to prove him wrong.
Source(s):
www.skidrowgames.net/ and personal experience of searching round for a crack.
