In a story posted earlier today I mentioned the Panthers might wait until after June 1 to cut Dan Morgan so as to allow them to spread the remainder of his prorated signing bonus over the next two seasons. However, I forgot about a recent ammendment to the NFL's Collective Bargaining Agreement that allows teams to cut two players before June 1 and still treat the transaction as a post-June 1 move for salary cap purposes.
Don't be surprised if Morgan is one of those moves.
The team isn't likely to keep him, but they like him very much as a person and would do everything they can to allow him to catch on somewhere else and continue playing football if he so desires. And, obviously the sooner Morgan is released the better chance he has of catching on somewhere else.