In mind it does not add up. Why was he not released two weeks ago. Releasing him now is very bad timing for a number of reasons. It is a distraction to the team and humiliating to Underwood; I don't think we are getting the full story.
Fred, please. I know it's Super Bowl weekend and everyone is going a bit stir-crazy. But seriously, this does add up. Follow the logic (I'm not sure all this is true, but it makes perfect sense):
1. BB had an idea that he probably would prefer to have an extra DL in the game because he's already discussed in the past about how important that is to keep guys fresh in the SB.
2. Gronk got hurt and BB wanted to see his progress before deciding if he would play on special teams or not.
3. Based on (1) and (2), it looks like BB realized there was a need for an extra DL that could also take Gronk's spot on special teams. Voila - they have such a guy in Silvestro.
4. In order to put Silvestro on the active roster, they need to cut someone. Who is available to cut? The best option is someone that you can afford to lose not only in the short term (i.e., someone who wasn't going to be active in the SB) but also in the long run (i.e., someone who was essentially a practice squad level player and not a Ron Brace or something like that). Voila - they have such a guy in Underwood.
5. They were probably making some contingency plans from the moment the final gun sounded in Baltimore, especially vis-a-vis Gronk's injury. But, because of the waiver rules, if they had made this move too soon, the Giants *could* potentially have claimed Underwood. Moreover, if they do this too soon, they don't have full information about Gronk. So they needed to wait as long as possible.
6. Thus, Underwood is cut as late as they really can. Probably with the understanding that, hey, we like you and we want you back, but this is a move we had to make for the following reasons: A, B, and C.
Underwood's classy response seems to indicate that he "gets it". There's probably a pretty good chance that they give him a sideline pass or, at worst, good seats for the game. Yeah, big bummer, but if they win he'll get a ring, he'll get paid (Kraft will pay him, if nothing else for the PR), he'll participate in the duck boat parade, and he'll be given every chance to play for them next year.
Now, is all of that above true? I don't know and neither does anyone else. But it's a perfectly, completely, totally sensible scenario. There is no need to suspect BB of a "cold heart" or of some conspiracy theory. They just needed a different body and had to cut someone to make it happen.
Believe it or not, cuts right before the Super Bowl have happened before.