I'm sure he'll get a chance to make the team, but if he sux I dont see them wasting a roster spot on him again, especially if they have some new CB's they like.
He could end up on IR if he never recovers. For him it doesnt really matter because he will get paid either way. If he isnt going to play I would think he'd prefer to be cut loose and try to catch on somewhere else.
Unless he shows something positive (which I dont think will happen because of how bad the injury is) I cant see him being here.