Years ago, June 1 had extreme significance on the NFL calendar. Teams looking to reduce the cap hit from cutting a veteran player would wait until June 1, resulting in half or more of the acceleration to hit the cap in the following league year.
In 2006, the NFL changed the rule, allowing teams to cut two players per year before June 1, with a June 1 designation. Few teams currently have cap issues; as a result, the entire notion of using the designation or waiting until June 1 to cut a player has become largely irrelevant.
June 1 had continued significance for another reason. After June 1, unrestricted free agents signed by other teams dont count toward the compensatory draft-pick formula. Starting this year, that date will move from June 1 to May 12, according to the league office.
