What do teams face when they release a player?

When a team releases a player, the player typically goes on waivers. This process allows other teams in the league to have the opportunity to claim the player before he becomes a free agent. When a player is placed on waivers, they retain their existing contract, and teams have a set period during which they can claim the player based on their waiver priority, which is determined by their record.

If no team claims the player during the waiver period, that player then becomes a free agent and is free to sign with any team. This system is designed to promote competitive balance within the league, allowing teams with poorer performance the chance to claim talent that may improve their roster.

Options such as immediate free agency and injury settlements do not apply in the context of releasing a player, as a player only becomes a free agent after clearing waivers if not claimed. The option stating there are no consequences disregards the structures and processes in place that govern player movement and team roster management in the NFL.