The NFL’s cyclical calendar hits another important checkpoint tomorrow at 4:00 PM EST, on June 1. This is a time in the calendar that bridges the gap between key periods of roster management — free agency and the draft — and the annual summer moratorium that each team has in June.

The June 1st date, however, is a designation that allows teams to manipulate their cap situations, specifically for the upcoming season. This layer enables teams to save money for the immediate season while pushing off what remains to be addressed in the following year(s), whether that be via a cut or trade.

Sports Illustrated’s Mike Kadlick broke down the importance of this date back in March:

When a player is released or traded around the start of the new league year (mid-March), their remaining prorated bonus money and guaranteed salary accelerates onto the team’s upcoming season’s cap and becomes what’s called “dead money”—a charge for a player no longer on the roster. When that same move occurs after June 1, however, teams are able to spread that dead cap-hit over two seasons instead of taking the entire hit in one year.

Mike Kadlick, On SI

As for the Indianapolis Colts, there are a handful of cut/trade candidates that they could entertain. The tricky part with the June 1st date is that each of these cut/trade candidates will likely remain as such even after the fact, as the designation in question doesn’t offer much additional cap space compared to other examples across the league.

These candidates are the most likely to be moved, though it’s not necessarily due to the June 1st checkpoint in question.

In no particular order, we break down the candidates who could be dealt, providing an analysis of their situation, a likelihood they’ll be moved, whether it’s via trade or release, and an assessment of whether such a move would be beneficial for the team.

Anthony Richardson Sr.

The Colts’ first-round pick (4th overall) of the 2023 NFL Draft has been back practicing with the team after no trade materialized following the 2026 draft cycle. Despite this, Richardson and his camp have not yet rescinded the trade request, so he could still be traded at any time before the regular-season trade deadline.

Richardson’s time in Indianapolis is now set to conclude once his rookie contract runs out following the 2026-27 season. He has a $10.8 million cap hit for the upcoming season, and although that’s a pricey payday for a projected QB3, the Colts have almost no reason to release him.

The Colts would not save any money if they cut Richardson, but they would if they could find a trade partner. Indianapolis would save $5.38 million in cap space for the 2026-27 season if they traded Richardson, though that would’ve been the case if he was traded prior to June 1st.

Keeping Anthony Richardson Sr. around while he focuses on making the most of his situation does less harm than good for the Colts because of Daniel Jones’s rehab. While Jones has been an active participant in individual drills throughout OTAs thus far, having Richardson around for team reps will help the rest of the team.

It’d be best for both parties to find a trade suitor for Richardson ahead of the regular season, but even if he winds up playing out his rookie contract in Indianapolis, having Richardson in the bullpen for the same price as it’d be to cut him is the best course of action.

Grover Stewart

I’d be remiss not to immediately preface that there is almost no reality where the Colts cut longtime defensive tackle Grover Stewart, especially considering the uncertainty surrounding DeForest Buckner’s return to form as he works back from a serious neck injury, but Spotrac listed Stewart as one of the NFL’s biggest cut candidates.

I get where they’re coming from, as cutting Stewart would save $12.25 million in cap space, but the Colts are in no position to move on from one of their biggest mainstay contributors without a succession plan in place, especially this deep into the offseason.

Fourth-year defensive tackle Adetomiwa Adebawore has blossomed into a legitimate piece across the defensive front, and newcomer Colby Wooden has become the Colts’ most underrated move in the offseason, but Indianapolis would be fools to move on from Grover Stewart just to save a chunk of money.

Stewart is 33 years old as he enters the last year of his deal with the Colts, but Indianapolis should be more focused on finding a way to make him a Colt for life as opposed to deciding whether or not they should abruptly fire him just as OTAs have kicked off.

Jaylon Jones

Jaylon Jones is entering the final year of his rookie contract and may ultimately serve as the Colts’ surprise training camp cut once it’s all said and done. Defensive coordinator Lou Anarumo’s scheme proved to be ill-suited for Jones during their first season together in 2025, therefore his potential release would more so be due to a schematic disconnect.

June 1st wouldn’t affect Jones’s dead cap situation, though; therefore, his release will save the Colts $3.74 million in cap space regardless of its designation.

Jones is by no means lacking in talent, but it was evident that his playstyle isn’t something Lou Anarumo covets. Colts 2025 UDFA signing Johnathan Edwards started in five games as a rookie compared to Jones’s two starts in Anarumo’s first year, and with an even deeper cornerback room heading into 2026, Jones will have to prove himself as someone you can’t stomach cutting if he wants to make the opening-day roster.

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