When I take over a new team, shouldn't I immediately be able to release players from the roster?

You can release players at the beginning of the second recruiting session. If you reserved a team, and are not recruiting during RS2, you have to wait until after your first season to cut players. Whether that’s the way it “should” be is for you to decide.

ETA, in your case, the reason you can’t cut players at the moment is that you don’t have enough scholarship players as it is. You have to be over 6 to cut players, you can’t cut below 6. If you sign a few players early in the second session, you’ll be able to cut someone.

Thanks shoe3. That makes sense. I wasn't aware of the minimum 6 scholarship players.