What happens if teams are not in compliance by March 2 with the salary cap?

[Bill B]

Quick question for the cap experts - with the March 2nd due date to get in complaince with the 2008 salary cap fast approaching what happens if a team is not in compliance by that time? For example, lets say if the Skins have not gotten all the contracts reworked by that date what occurs at that point? Forfeiture of draft picks? Fines? Will the team be forced to cut players to get below the cap?

I know that the cap experts on the Warpath say the Skins should have no trouble reworking the contracts and I am not trying to deny this - I just wanted to know if anyone knew the ramifications of not complying with the salary cap from a general curiousity standpoint.