LongTimeListener said:
I have always wondered if/how many pro athletes do this when they're cut. I wouldn't put it past them for a second.
Good question. I'm not sure how it applies to someone who is cut midseason, but an athlete must have no reasonable expectation of playing the next season if they are cut in the offseason.
So if Rex Grossman gets cut in the offseason, he probably won't be able to collect because there is a reasonable chance someone would sign him. Some practice squad bum who gets cut would be more likely to be eligible.
I'm not sure how getting cut midseason would affect eligibility.