If you thought the Raiders cutting Rolando McClain was good news, you're going to love this. As it turns out, according to Joel Corry of the National Football Post, there was language in McClain's contract that voided all remaining guaranteed money should he be suspended for conduct.
Last season he was indeed suspended for two games for conduct detrimental to the team which means his remaining $3.635 million in previously guaranteed money is now voided. This brings his dead money against the cap from its previously assumed figure of $10.895 million down to $7.26 million - just $585k more than his 2013 cap hit would have been had he remained on the roster.
Basically what this means is it the cost of cutting him is negligible compared to keeping him. But keeping him would have been far more costly to the team dynamic and you can't put a price on that. That said, actual monetary value is nice as well. In this case, for Rolando McClain, it was literally payback time.
McClain officially became a free agent on Monday at 1pm Pacific time and the Raiders immediately began putting that $3.635 million to good use. In about 24 hours time, they signed two outside free agents - CB Mike Jenkins and S Usama Young -- and re-signed two of their own free agents - DE Andre Carter and CB Joselio Hanson. They are also believed to have tendered contracts to their remaining Exclusive Rights Free Agents - CB Brandian Ross, RB Jeremy Stewart, and OL Alex Parsons.
The contract figures of the newly signed free agents are not yet known, so it is hard to know the Raiders' exact cap number at this instant. However, the most recent figure before the flurry of signings on Monday and Tuesday at about $8 million under the salary cap.
You can figure the four signings carry a total cap hit between $3 million and $4 million which would leave the team with enough room to sign one or perhaps two more low cost free agents. If they do add a player or more than one, it would happen this week as off-season workouts begin next Monday. Free Agent quarterback Seneca Wallace is visiting on Wednesday and there is a decent chance the Raiders attempt to sign him to a minimum deal which would give the team three quarterbacks.
The cap room will open up again for the Raiders once June 1rolls around and the a large portion of Michael Huff's cap hit is distributed to 2014. We can expect more additions at that time.