When do second round draft picks have a cap hold?

A second round draft pick has a cap hold until they are signed. This means that while the player has been selected in the draft, their salary does not yet count against the team’s salary cap until a contract is formally agreed upon. The cap hold represents the potential salary that would be allocated to the player's contract, thus affecting the team’s financial flexibility during that period.

Until a second round pick is signed, that cap hold is in place to ensure the team has a financial obligation that reflects the potential addition of the player to their roster. Once the player signs a contract, the hold is removed from the cap. If the player is not signed and later waived, the cap hold is also removed, but the focus is primarily on the period up until the signing of a contract.