If the Los Angeles Rams need to get further under the 2024 salary cap by the summer and next season, they have a $10 million option with offensive tackle Joseph Noteboom: Instead of outright releasing him to save $5 million immediately, they can release him with a post-June 1 designation to save $15 million come the summer time.
But there are important rules to remember and factor in when discussing a potential post-June 1 release, perhaps none bigger than this: The money is not available now or during the most important parts of free agency. It is a post-June 1 designation, therefore the Rams do not see the savings until June 1.
Given L.A.’s current projected salary cap of $27.7 million headed into March free agency, there probably will not be a need to release Noteboom or Brian Allen with this designation, and both are likely to be released if their status as backups is any indication.
Post-June 1 rules
Only 2 post-June 1 designations per team
I can’t imagine a scenario where this rule comes into play for the Rams. Release Noteboom and Allen outright and get to $37.6 million in cap space.
If for any other reason L.A. feels they want a lot of money to spend, restructuring Matthew Stafford’s contract can save up to $19.9 million in savings for this season. That’s going to be enough, if the Rams want to make any huge splashes in free agency or on the trade market.
Essentially a post-June 1 designation simply says that the team waited long enough so they don’t have to pay the additional dead money cap charges left on your salary until next season. The Rams owe Noteboom $5 million prorated bonus payments from his signing bonus in 2024, 2025, and 2026. So if he is released in March, that means three $15 million signing bonus payments=$15 million in dead money. Then $10 million in dead money for 2025 and $5 million in dead money for 2026.
Noteboom also has a $5 million roster bonus due in March. If he’s on the roster, he is paid that bonus. That’s why I imagine he won’t be on the roster. The team could use a post-June 1 to get around the bonus, but then they won’t see the savings for months.
The money isn’t available now
If the Rams want available cap space by releasing Noteboom, they’ll do it with an outright release. Teams have to carry his cap charge into June with a post-June 1 designation, even if he’s not on the roster and has signed with a different team.
Let’s pretend a team doesn’t have a lot of cap space but does have the number one pick. That team will need a significant cap charge for the player they choose in the draft, but won’t have to pay it right away. That’s one reason to make sure you have a lot of additional cap space in June, July, and August.
The Rams have the 19th pick and that’s only for now. They could, and often have, traded their first round picks.