The Redskins entered Monday upside down in regards to the NFL salary cap. At the close of business they have some breathing room.
After giving Kirk Cousins the franchise tag the Redskins were about $6.2 million over the salary cap. They released four veteran players and netted some substantial cap savings.
Player-Net cap savings
QB Robert Griffin III—$16.1 million
S Dashon Goldson—$8 million
DE Jason Hatcher—$4.2 million
S Jeron Johnson—$1.1 million
That totals $29.4 million in cap savings. But the Redskins don’t add quite that much to their available cap room. With these four players cut, four other players move up and get counted in the salary cap due to the Rule of 51*. The net cap savings are reduced by $2 million giving the Redskins $21 million in cap space.
One more item to consider here. The Redskins have extended a restricted free agent tender offer to safety Duke Ihenacho. That counts against the cap immediately so we need to subtract $1.2 million from the available space (1.7 million for the tender minus $500,000 for the Rule of 51 player pushed off of the list). So, as of right now, the Redskins have about $19.8 million of cap space to work with.
* The top 51 rule states that from the beginning of the League Year (March 9 this year) until the day before the first regular season game, only the highest 51 player cap numbers will be included and counted against a team’s Salary Cap.