The Buffalo Bills may not have a ton of salary cap space, but whether Charles Clay remains on the roster or not, his cap hit is incredibly likely to stay the same. His contract was renegotiated a year after he initially signed and his $9 million cap hit for 2018 is equal to his $9 million dead cap hit.
It’s a wash.
Releasing Clay straight-up would create a hole without providing any cap relief. If they designate him as a post-June 1 cut, they could spread $4.5 million of that cap hit into the 2019 cap year instead.
In each of the last three seasons of his contract from 2017 to 2019, Clay has a $4.5 million salary and a $4.5 million pro-rated signing bonus to account for.
2018 cap hit: $9 million
Salary due: $4.5 million
Dead money: $9 million
Cap savings if released: $0 ($4.5 million post-June 1)