After the Seahawks were unable to find a trade partner willing to acquire Sidney Jones, the Seahawks announced his release Tuesday afternoon. johnpgilbertnfl explains how 92 minutes show the move was made for cap purposes.
. Then, after standing pat at the deadline, the Hawks opted to move on from Jones, sending him to the waiver wire, and the timing of that move tells says everything about whether or not the move was cap related.
The difference is crucial in this case. If the team had waived Jones at 3:59 pm on Tuesday, he would have immediately been a free agent able to sign with any other team. In addition, his 2022 base salary would have been fully guaranteed as a vested veteran on the Week 1 roster, making him eligible for termination pay.
The reason for maximizing the amount of time it is known Jones was on the waiver wire is that if another team claims Jones it would free up not just the $480,000 in per game roster bonuses immediately, the claiming team would take on the remainder of the $900,000 he is owed. That would allow the Seahawks to have freed up $1,380,000 of cap space, though how much additional space would be recognized would depend on how the roster spot is filled.
Boiling it all down to the simplest terms, had the Seahawks released Jones prior to 4:00 Tuesday, it would have freed up $480,000 of cap space and allowed Jones to sign wherever he wanted. By waiting until after 4:00 Tuesday, it made Jones subject to waivers and he would be required to play for whatever team claims him, but the team has the potential to save an additional $900,000 of cap space. The Hawks didn’t wait 92 minutes to announce the release of Jones because he requested his release.
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