| Pick | Team | Pos | Selection | NFL Team |
| 1.01 | Florida All-Stars | QB | Ryan Leaf | SD |
| 1.02 | St. Augustine Raiders (from RCH) | QB | Peyton Manning | IND |
| 1.03 | Bay Area Quake (from PAL) | RB | Curtis Enis | CHI |
| 1.04 | Hooksett Hawks (from CFL) | WR | Randy Moss | MIN |
| 1.05 | Carolina Gobbledygooks | RB | Fred Taylor | JAX |
| 1.06 | Palm Beach Pigskins | RB | Robert Edwards | NE |
| 1.07 | Richmond Rogues (from BAY) | WR | Kevin Dyson | TEN |
| 1.08 | Plant City Cheeseheads | RB | Robert Holcombe | STL |
| 1.09 | Hooksett Hawks | RB | Skip Hicks | WAS |
| 1.10 | Colorado Cavaliers | QB | Brian Griese | DEN |
| 1.11 | Richmond Rogues (from BRD) | WR | Marcus Nash | DEN |
| 1.12 | Winter Park Sunday Punch | WR | Jacquez Green | TB |
| 1.13 | Rocky Mountain Lions | RB | John Avery | MIA |
| 1.14 | Pittsburgh Pumas | WR | Hines Ward | PIT |
| 1.15 | Shenandoah Shadowen | WR | Germane Crowell | DET |
| 1.16 | St. Augustine Raiders | TE | Stephen Alexander | WAS |
| ROUND 2 | ||||
| 2.01 | Florida All-Stars | WR | Jerome Pathon | IND |
| 2.02 | Richmond Rogues | WR | Mikhael Ricks | SD |
| 2.03 | Plant City Cheeseheads | WR | Jammi German | ATL |
| 2.04 | Hooksett Hawks (from CFL) | WR | Tony Simmons | NE |
| 2.05 | Carolina Gobbledygooks | WR | Joe Jurevicius | NYG |
| 2.06 | Palm Beach Pigskins | RB | Ahman Green | SEA |
| 2.07 | Carolina Gobbledygooks (from BAY) | RB | Rashan Shehee | KC |
| 2.08 | Plant City Cheeseheads | WR | E.G. Green | IND |
| 2.09 | Palm Beach Pigskins (from CFL via HKS) | WR | Larry Shannon | MIA |
| 2.10 | Colorado Cavaliers | WR | Pat Johnson | BAL |
| 2.11 | Richmond Rogues (from BRD) | RB | Tavian Banks | JAX |
| 2.12 | Richmond Rogues (from WIN) | WR | Brian Alford | NYG |
| 2.13 | Rocky Mountain Lions | WR | Donald Hayes | CAR |
| 2.14 | Pittsburgh Pumas | (forfeited) | ||
| 2.15 | Shenandoah Shadowen | WR | Az-Zahir Hakim | STL |
| 2.16 | Richmond Rogues (from STA) | TE | Cameron Cleeland | NO |
| ROUND 3 | ||||
| 3.01 | Carolina Gobbledygooks (from ORL) | TE | Alonzo Mayes | CHI |
| 3.02 | Richmond Rogues | WR | Chris Brazzell | NYJ |
| 3.03 | Richmond Rogues (from PAL) | RB | Chris Fuamatu-ma'afala | PIT |
| 3.04 | Central Florida Orange Crush | (forfeited) | ||
| 3.05 | Carolina Gobbledygooks | QB | Charlie Batch | DET |
| 3.06 | Palm Beach Pigskins | (foreited) | ||
| 3.07 | Richmond Rogues (from BAY) | (forfeited) | ||
| 3.08 | Plant City Cheeseheads | (forfeited) | ||
| 3.09 | Hooksett Hawks | (forfeited) | ||
| 3.10 | Colorado Cavaliers | WR | Tim Dwight | ATL |
| 3.11 | Richmond Rogues (from BRD) | RB | Wilmont Perry | NO |
| 3.12 | Winter Park Sunday Punch | TE | Rod Rutledge | NE |
| 3.13 | Rocky Mountain Lions | RB | Michael Pittman | ARZ |
| 3.14 | Pittsburgh Pumas | (foreited) | ||
| 3.15 | Shenandoah Shadowen | WR | Corey Bradford | GB |
| 3.16 | St. Augustine Raiders | (forfeited) | ||