I'm going to take a more extreme case here, but how would you feel if Clay Matthews was the last player cut next year and the Packers got nothing in exchange for him besides the cap savings?
Here's what we know:
- His cap number for 2017 is $15.2 mil, his dead cap would be $4.1 mil, so the cap savings for 2017 would be $11.1 mil.
- His cap hit for 2018, the last year of his contract, is $11.4 mil with no dead cap.
- He'll be 31 years old with chronic hamstring problems.
- He's not the same player he was a few years ago.
So, who's going to give you anything in trade to take on the last 2 years of that contract? Nobody.
This is not an extreme case. These contracts are structured this way to have an out if the player goes into decline. It's why the value of a contract is to be measured by (1) the guarantees and (2) how the dead cap is structured.
Depending on when Matthews gets back on the field, and how he plays when he does, I could see where they might not think he's worth keeping vs. the $11.1 mil cap savings. It could be a case of Matthews' money transferred to Perry, or another FA that needs to be signed, which is another distinction without a difference.