There once was a time, so long ago that the “L” in the NFL logo had that weird curl on the end, that June 1 was a huge day on the league’s calendar.
Prior to the 2006 revision to the Collective Bargaining Agreement, teams that cut a player before June 1 had to take the full remaining cap acceleration, immediately. That prompted plenty of teams to carry a veteran player on the roster until June.
It resulted in an annual second wave of free agency, with players hitting the market after the first wave of free agency and the draft. From the perspective of media outlets that covered the NFL, post-June 1 free agency was not a bad thing.
As of 2006, teams acquired the ability to release up to two players each year before June 1 (and after the start of the league year), with a post-June 1 designation.
While such moves wipe the player from the roster, his base salary for the current year remains on the books for cap purposes until June 2. As a result, teams that use this device see a bump in cap space when June rolls around.
Some teams still choose to take the full cap charge before June 1. The Cardinals did that last year with receiver DeAndre Hopkins, even though he was released days before June 1. (It makes no sense to not do it, since any cap money not used in a given year can be automatically rolled over to the next. Unless, of course, a team just doesn’t want to have extra cap space around in the event a veteran player becomes available later in the year, or a trade opportunity arises.)
Speaking of trades, the full cap acceleration still applies before June 1. That hasn’t changed. Arguably, it should. The reasoning is identical. And it advances the broader objective of letting the player get a fresh start early enough in the offseason to get fully prepared for the coming slate of games.