It’s not the official start of summer in the NFL, but June 1 is a huge date around the league and will likely play a factor in several players moving on, or teams taking a risk on a huge trade.
In NFL terminology, June 1 is the final day that teams see all future prorated money accelerate as “dead money” if a player is released.
Starting Thursday, June 2, any player who is released will only have his current season’s prorated money count against the salary cap and the rest will be deferred to 2024.
Teams like the Eagles and others around the NFL will also pick up salary cap space as any player designated a post-June 1 release earlier this year will move from the active roster to the dead money side of the books.
Here are four ways the June 1 date will and could impact the Eagles going forward.
Brandon Brooks
The former All-Pro right guard retired after the 2021 season, but he still accounts for $9,797,237 in dead salary cap space.
Fletcher Cox's initial release
The Eagles shocked some people around NFL circles last summer by risking the loss of defensive tackle Fletcher Cox after they released the 12-year veteran. Cox was re-signed on a $14 million deal and his initial release saved the club $5.3 million.
Fast forward and Cox re-signed on a one-year, $10 million deal, but he’ll still count for over $15 million of dead-money on the 2023 salary cap.
Trade time
The Eagles could choose to be buyers or sellers, but ultimately, the June 1 date allows Philadelphia and other teams to significantly lower the cap hit on any subsequent deals.
Players like Quez Watkins or Derek Barnett could be traded in part to deep position groups.
Had the Eagles traded Jalen Reagor prior to June 1, they would have accrued a dead cap hit of $3,605,700 on their books in 2022. Now the move costed half that figure ($1,802,850) and more importantly, it counts in 2023.
If Philadelphia wanted to acquire a big named defensive back or skill player, the June 1 date would make things much easier.
Potential releases
If the Eagles GM was going to make a move or waive a high profile player, it would happen after June 1, allowing Philadelphia the chance to spread out the salary cap hit.
Derek Barnett could be on the list as well.
