No, you will not have to cut a guy. The roster will be expanded by three for the three rounds of the draft. Our league is an "all-keeper" league. You have the option to keep EVERYONE on your team. Rosters expand by 3 slots each season (dunno if there is, or will be, an eventual cap on that). In order to cut players and resign new ones, you can do that after the draft and during the season as well.