When he was cut from the Patriots it wasn’t linked to his arrest. His contract was most likely not guaranteed (most in NFL aren’t). I doubt the veracity of the whole story
It's easy to check.
There are at least 3 sports websites, including the NFL website, that give detailed numbers on all player contracts.
In 2012, Hernandez signed a 5 year contract extension. He was initially drafted in 2010.
In 2012, he got the largest bonus ever paid to a tight end at that time - $12.5 million.
In 2012, he got the second largest total contract ever paid to a tight end - $40 million.
Contract extensions and free agent contracts for the top 150 NFL players are always guaranteed for the first two years, plus the signing bonus.
Elite free agents, like Ndamukong Suh, get three years guaranteed. Older elite free agents, like Peyton Manning, got two years, but much higher guaranteed bonuses.
Re: “When he was cut from the Patriots it wasn’t linked to his arrest.”
Sorry, that's incorrect.
Hernandez had guaranteed money due in both 2013 and 2014.
The Patriots cut him for “detrimental conduct.”