The Redskins released five players today and as a result they have about $3.3 million more in salary cap space than they did to start the day.
There are cap savings totaling almost $4.8 million with the releases of Carriker (savings of $2.99 million), Rocca ($1.2 million) and Quinn ($570,000). The cap savings consist of the player’s cap charge minus any dead cap from unallocated bonuses paid in the past. Carriker’s release added $3.5 million in dead cap while Rocca’s added $162,500. There is no dead money for Quinn’s contract.
But the Redskins do not have an additional $4.8 million to spend. That is because of the Rule of 51. During the offseason, only the team’s top 51 cap numbers count towards the team’s salary cap number. When a player is removed, whoever is 52nd-highest moves into the calculation. So when the three veterans were removed from the roster, they were replaced by three players who are making $495,000 each. Add that nearly $1.5 million back into the cap number and the Redskins end up with a net of $3.3 million more to spend.
Running backs Jawan Jamison and Davin Meggett were also released but neither was in the top 51 is salary so they were not involved in the calculations.
After today’s moves and the franchise tag handed to Brian Orakpo on Monday, the Redskins have about $21.9 million in salary cap space to work with. It’s certainly possible for them can create more with additional roster moves in the coming days.