Although all sporting events have been cancelled or postponed, the business side of sports still continues to function, including the NFL free agency.
The Tennessee Titans were able to free up close to $10 million in cap space by releasing running back Dion Lewis and linebacker Cameron Wake. In 2018, Lewis signed a four-year, $19.8 million contract, while Wake signed a three-year, $23 million contract in 2019.
In just one start last season, Lewis rushed for 209 yards, as the explosion of Derrick Henry pushed the offense to revolve around him. Lewis, 29, rushed for 726 yards and a touchdown and had 564 receiving yards and two receiving touchdowns in two seasons with the Titans.
Wake only played nine games with the Titans, finishing with five tackles and two and a half sacks. In his 11 seasons, 10 with the Miami Dolphins, Wake has 364 tackles and 100.5 sacks.
The Titans are looking to place a franchise tag on Henry, while also freeing up cap space to resign quarterback Ryan Tannehill or take a chance at another quarterback.
At the same time, the Green Bay Packers released tight end Jimmy Graham, who was set as the highest paid tight end in the league, making $10 million per year. Graham, 33, finished 2019 with 447 receiving yards and three touchdowns. Although he’s widely respected, his impact on the field isn’t worth the money he was owed. Only Zach Ertz was scheduled to take a bigger cap hit than Graham.
The Packers save $8 million in cap space by releasing the former All-Pro tight end.
Two-time Pro Bowl safety Reshad Jones was released by the Dolphins late Thursday. The move frees up roughly $5 million in cap space for the Dolphins, who now have $90 million in cap space entering this free agency period.
Selected in the 2010 NFL Draft, Jones was the longest tenured player on the Dolphins. The 32-year-old is in a different phase of his career than what the rebuilding Dolphins were looking for.