This was the third expansion draft after the NFL had instituted the salary cap, which limited the total amount teams could spend on their roster of players.

[7][8][12] However, teams were not required to remove players from the draftable list, resulting in three Jets and three Jaguars being drafted to the Texans.

[12] Existing teams were not allowed to put punters or kickers on the list,[7][8] nor any player from their 2001 roster who would have become an unrestricted free agent in 2002.

[12] Notable players that teams exposed to the draft included five-time Pro Bowler Tony Boselli, Randall McDaniel, and Willie Roaf.

Those selected received $10,000 immediately, an additional $20,000 bonus for reporting to training camp, and another $30,000 for making the active roster during the regular season.