Although early June no longer serves as a stretch in which a wave of veterans are released for cap-saving purposes, June 2 still serves as an important calendar date for certain teams annually. Nine teams qualify as beneficiaries this year.
Eleven players were designated as post-June 1 cuts this year, via CBS Sports’ Joel Corry. Due to a longstanding CBA provision, teams that designate players as post-June 1 releases see the dead-money burden lessened for that year. Teams can designate up to two players as post-June 1 releases each year.
Here are 2022’s post-June 1 cuts, along with the belated cap savings the teams picked up Thursday:
Las Vegas Raiders
As detailed in PFR’s glossary, post-June 1 cuts spread dead-money hits over two years. These teams will be taking on dead money this year and next. A few of the 2023 hits are substantial, but the league’s cap-space hierarchy changed significantly Thursday as well.
Because of multiple restructures, Raiders will carry $9.9MM in Littleton dead money next year. The Cowboys will take on $8.7MM in 2023 for cutting Collins, while the Titans will be hit with $8.4MM for their Jones release. Cleveland, which just gave David Njoku a $14.2MM-per-year deal, will carry a $7.5MM dead-money cost next year due to shedding Hooper’s eight-figure-AAV deal early. The Eagles will be tagged with $11.5MM for their Cox cut, with Corry noting that is the net difference because of a $3.2MM salary cap credit regarding Cox’s 2022 bonus proration. Philadelphia re-signed the perennial Pro Bowler on a one-year, $14MM deal.
Hooper’s release pushes Cleveland’s cap space to beyond $40MM; the Browns’ overall cap-space edge is now a whopping $15MM. That should help the team address multiple needs ahead of training camp. Other teams have more options now, too. As of Thursday, the Raiders hold the NFL’s third-most cap space ($22.5MM, per OverTheCap). The $10MM the Cowboys saved moves them up to fourth in cap space ($22.49MM), while the Bears ($22.2MM), Commanders ($18.4MM) and Seahawks ($17MM) now sit fifth, sixth and seventh.
A handful of this year’s post-June 1 cut crop joined Cox in taking advantage of the modern setup, which allows these cap casualties to become free agents immediately — rather than waiting until June to hit the market. In place since the 2006 CBA, this adjustment let veterans loose early while keeping their cap figures on teams’ payrolls through May. Collins quickly joined the Bengals, while Littleton landed with the Panthers, Hooper signed with the Titans, and Phillips returned to the Bills. The remainder of this group remains unsigned. The savings this lot of teams inherited Thursday may help some of these players’ causes in free agency.