As can be seen, the Steelers and Raiders are in Cap purgatory until the day after June 1st. Take a look above at how much cap space each club stands to gain in cap credits as a result of these respective moves. The Dolphins, Raiders, Falcons, and Steelers each gained not only the normal savings for cutting the players listed above in the manner that they did, but half of their dead money as well.
Each player still counts against their old team's cap though to some extent. Half of the dead money counts this year, and the other half counts against the cap next year as opposed to all of it being swallowed up this year. The Dolphins and Raiders will gain the most room of the clubs listed above. The Giants could have went this route with Bradshaw and gained an extra $1,250,000 but they opted to swallow all of his dead money this year instead of gaining an extra $1.25 million in cap room in addition to the room that they gained when they released him.
Let's see if there are any post June 1st moves that are actually made after June 1st in addition to the ones mentioned above. I've been critical of Chris Snee's bloated cap number, and have been calling for him to be cut then, and possibly re-signed at a lower rate shortly thereafter to give the Giants more room under the cap (even though I'm pretty sure nothing of the sort is going to happen one can still dream though). It'll be interesting to see how things unfold on this upcoming milestone date on the NFL calendar that used to be more significant back in the mid to late 90s when the salary cap league we know of today was still in its infancy.
