Yeah will be interesting. It won’t cost them much to keep him but considering how fast the cut has come I don’t think they see much potential there at all
At this point it mostly means he won't make their 53 man roster (which wasn't going to happen anyway).
He's injured so before he gets put on their injury reserve or practice squad they have to waive him (and give other teams a chance to sign him). Assuming he makes it through waivers they then can either put him on IR (and later sign him to their practice squad) or cut him completely with an injury settlement.