With Jim Tressel resigning from Ohio State and there being talk that Terrelle Pryor and his suspended teammates may never even play again in college, there have been many questions about the NFL supplemental draft. The supplemental draft gives players who leave college after the deadline to declare for the regular draft a chance to join the league a lot sooner than waiting until next year's draft. It isn't a big event, and it only takes place if players declare for it.
Because no players have declared so far, no supplemental draft is scheduled to take place this summer. If it does take place, it would only be conducted via email, so it's not as if a lot of planning needs to be done.
NFL Network's Albert Breer reports that the deadline to apply for the supplemental draft is likely to be sometime in early July, assuming the CBA and lockout issues are resolved. If there is actually anyone that does indeed apply for it, the draft would be held in mid-to-late July.
Janoris Jenkins was presumed to be the big name in the supplemental draft after Florida dismissed him, but it's likely that he will transfer to an FCS school for a year and enter the 2012 NFL Draft. Other names that have been mentioned include Pryor and Notre Dame's Michael Floyd, but neither has left his school yet, so it's a bit premature to speculate about them entering the supplemental draft.
UPDATE: Adam Schefter reports that a supplemental draft can be held because it was covered in the old CBA.