Last night the Chicago Bears, along with the other 31 teams in the NFL, wrapped up their preseason schedule. The next big event on the NFL calendar is the cut down to 53 players, which must be done before 4pm Eastern tomorrow, September 5th.
After that each team will begin scouring the waiver wire in hopes of unearthing the next great diamond in the rough and stashing him on their practice squad. Sunday, September 6th, at 1pm Eastern, each team will begin announcing their practice squads (henceforth to be referred to as "PS").
Before a player can be signed to a PS, he first must pass through waivers.