Throughout the first decade of the NFL’s free-agency system, June 1 provided a second life to the process. Now, not.
Before 2006, teams had to wait until June 1 to dump a bloated contract and push the bulk of the cap hit into the next year. As of 2006, teams acquired the ability to designate two players per year as post-June 1 cuts, allowing the team to move the player in March -- which gives the player a chance to land elsewhere while the money is still flowing.
As a result, few if any players are cut after June 1 because of the June 1 wrinkle. If a team has opted to hold a player’s rights this deep into the new league year, they’ll likely hold him even longer, waiting to deliver the take-a-pay-cut-or-take-a-hike ultimatum until the calendar says August and the options elsewhere for the player say Few if Any.
The only risk is that a serious injury suffered during offseason workouts, training camp, or the preseason will guarantee the player’s salary for the full year. But if a team hasn’t cut the guy yet, it’s already willing to assume some risk of season-ending injury in order to preserve the potential reward of extra cash and cap space.