That's not what Reiss said:
There's still a cap charge.
There's a cap charge no matter what. You really don't get it. If they release him right now like you're claiming they should do bc he "takes up cap space", guess what? He'll give the Pats the same cap hit on their cap space.
Hilarious.
This is what I got out of it:
-- Ochocinco is due to cost the NEP a cap hit of 4.5 million this year, which is just ridiculous for a guy with his lack of production. That money is coming from a base salary of 3 million dollars, and 1.5 million in signing bonus money which is due also. (He's also due 1.5 million in signing bonus next yr too)
-- By cutting Ochocinco, they can save themselves 3 million against the cap this yr. They can narrow his 4.5 million total down to 1.5 million total. This would be done by erasing his 3 million dollar base salary. This is assuming that they would spread the other 1.5 million signing bonus due next yr under next yr's cap.
--They'd still be on the hook no matter what for 1.5 million this yr, and 1.5 million next yr against the cap. The good news is that 1.5 million could be reduced from the original 4.5 million dollar number that would count against the cap this yr.
--They can offer to have him restructure (which they did). This should lower his cap number from 4.5 million down to a more managable 2.5--2.75 million or so (approximately). This would save approximately 1.75 million to 2 million more off of this yr's cap.
--The final decision now becomes whether or not they want to keep him at a cap hit of about 2.5--2.75 million, or let him go at a cap hit of 1.5 million. The difference is now only 1 million--1.25 million should they decide to keep him.
I'm not 100% certain that I fully agree with Reiss' take on this matter, as I was under the impression that all bonuses/dead money was due on the termination of the pact. He claims that it can be spread out over this yr and next yr...but I am questioning that comment.
If the dead money can't be spread out over this yr and next yr, and Reiss is wrong, then that would make it even more difficult to try and cut Ochocinco. We may have to end up getting used to him being around for another yr.
Maybe someone else has an opinion on the dead money being spread?