Based on the footnotes info from
Miguel's page:
Chad Ochocinco - if the Pats cut hit they take a cap hit of $3 million (the remainder of his prorated signing bonus); his 2012 cap figure appears to be $4.75 million ($3 million salary; $1.5 million prorated bonus; $250k workout bonus); net cap savings of $1.75 million.
Matt Light - if the Pats cut him they take a cap hit of $3 million (the remainder of his prorated signing bonus); his 2012 cap figure appears to be $6.5 million ($3.4 million base salary; $3 million prorated bonus; $100k workout bonus); net cap savings of $3.5 million.
Mike Wright - if the Pats cut him they take a cap hit of $450,000 (the remainder of his prorated signing bonus); his 2012 cap figure appears to be $2.74 million ($2,205,000 base salary; $450k prorated bonus; $85k workout bonus); net cap savings of $2.29 million.
I can't imagine the Patriots needing any additional room beyond that, despite what it may end up costing to re-sign Welker. I'm not in favor of cutting Light, but if push comes to shove where they need a large amount of additional cap space he may be asked to restructure his deal with an extension that would push some of that cap amount into the future.
Miguel's UNOFFICIAL 2011 Patriots Salary Cap Footnotes and Documentation Page