The NFL is reportedly moving the June 1 free-agency deadline to May 12, according to Mike Florio of Pro Football Talk.
Currently, teams can cut two players in the offseason with a June 1 designation even before the date itself, allowing a large portion of said player's accelerating cap hit to land on the cap in the following year.
The Carolina Panthers did so when they let DeAngelo Williams go recently.
After a team uses their two allotted cuts, they will have to wait until June 1 to avoid taking a heavy cap hit. Pushing the date forward provides teams the opportunity to set their rosters earlier.
As Florio notes, the date is also significant for signings. Adding players after June 1 doesn't count against the compensatory draft-pick formula. Moving that date up will allow teams to sign players earlier so they can take part in more of the offseason program.