There’s a non-zero chance that if he hadn’t got hurt last year, he wouldn’t be on the Bills anymore. But there was no way they were going to cut him after that.
Was he week-to-week contract or for the entire year? I’m way out of touch with football, but they used to sign guys for individual games when they were on the very edge of, well, not being in the NFL.
Since he is still on the 52 man roster he still gets his full contract amount. If he were dropped to the practice squad he would be getting paid $12,000 a week (maybe $16,000 not sure if he’s considered a veteran). He is currently making $940,000 a season. The league minimum is $750,000. If he were placed on the practice squad another team could claim him.
That does still happen. It seems uncommon, at least I don’t hear about it very often, but I’ve seen it in recent years. Especially if you have a guy who has retired or is on the verge of retiring, and they just need that person for one game, either to fill a temporary spot or for a symbolic reason.
The very first example to pop in my head was this one.