I didn’t have time today to do individual posts on the releases but I thought it would be good to summarize some of todays action. Remember that veterans released now are immediately available to sign. If you want to see what players are available right now, check out the OTC Free Agent page and just click on SFA to filter the list to street free agents.
Keith Rivers, Bills– Rivers never really lived up to his lofty draft status but has stayed in the NFL for a few seasons with the Giants and Bills. Rivers was set to earn $1.7 million this year, which was far to0 much for a part time player who would see his snaps fall even further this year. The Bills paid Rivers a $1 million signing bonus last year and will carry $500,000 in dead money. The effective savings of the move is $1,265,000.
Thomas DeCoud, Panthers– The Panthers signed DeCoud last season after he was released by the Falcons. DeCoud didn’t do anyting extraordinary and the Panthers are still digging out of their salary cap crunch which makes $2.165 million salary cap figure too much to handle. DeCoud received a $500,000 signing bonus ad will continue to count for $250,000 against the cap. The team gains about $1.48 million in effective cap space with the release.
Donnie Avery, Chiefs– Given the Chiefs cap situation it would be difficult to justify a $3.9 million cap charge for a low level wide receiver. Releasing Avery saved the team $3.4 million in salary this year and will net them just under $3 million in cap savings. Avery received a $1.5 million signing bonus in 2012 and will count for $500,000 against the Chiefs cap in 2015.