The supplemental draft is usually an afterthought in the NFL's offseason as teams prepare for training camp. This year, according to CBS Sports, there will be six players eligible for selection. Those players are listed below:
DE James Boyd, UNLV
DT Nate Holloway, UNLV
DE Toby Jackson, Central Florida
WR DeWayne Peace, Houston
WR O.J. Ross, Purdue
DB Damond Smith, South Alabama
The supplemental draft, unlike the regular draft held in April, is conducted via email. Teams will place bids on players they would like, and the highest bidder wins that pick. If a team bids a second round pick, for instance, and is the highest bidder, that team would have the right to sign the player, and the team would lose next year's second round selection from the regular draft. Ties in bidding are determined by this year's draft order (i.e. a Chiefs bid of a first rounder would top the Patriots' first round bid).
Usually, players deciding to apply for eligibility in the supplemental draft do so because they ran into some sort of trouble after it was too late to enter the regular draft.
Players are rarely taken with high round selections in the supplemental draft. Terrelle Pryor garnered a lot of interest a couple years ago, but even then, a third round selection was spent, and that was probably too much on the Raiders' end.
The supplemental draft will be held this Thursday, although because the draft is conducted via email, there will be a delay in hearing which players were selected.