What happens if a player is waived and has no remaining years on his contract?

When a player is waived and has no remaining years on his contract, the stretch provision becomes an important consideration for the team. The stretch provision allows teams to spread the cap hit of a player's remaining contract over multiple years if the player is waived. However, if there are no remaining years on the contract, the stretch provision is not applicable in this scenario. As a result, the player's cap hit is not subject to adjustments that would occur with a remaining contract, making the stretch provision effectively unaffected.

This outcome directly relates to how teams manage salary cap implications and player movements following a player's release. The other options do not accurately reflect the situation as there would be no severance package, there is no immediate re-signing for a team due to potential free agency status, and the player is not barred from playing for any team following the waiver.