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If cutting Amendola fees up 2.1M in cap space, then why wouldn't they do it? The 3.6M is already accounted for in the amount of cap space it clears up.
? The $3.6M is on the books regardless of whether Amendola is on the team next year or not. It clears up no cap space.
Cut Amendola and you have to replace him, as a kick returner, as depth behind Edelman in the slot, and as a 3rd WR. $2.1M in cap space doesn't buy a lot in today's WR market, and there aren't a lot of good targets out there. It certainly won't make a dent in anyone's Larry Fitzgerald/Andre Johnson fantasy scenarios.
The best case scenario that I can think of involves Amendola taking a cut to lower his cap hit and using that money, but I'm not sure there will be a ton of room to afford a WR.