Would that cap space be cleared this season? If I undersand correctly, he violated the conduct provisions in the contract, so his yearly salary is gone when we term the contract as it was not guaranteed, and the signing bonus can be claimed by the team, and it would also come off the books. This could be a blessing in disguise, akin to the Spurs getting Tim Duncan because of David Robinson being hurt. Time to move on boys and girls, Vick is done in Atlanta and quite possibly the NFL.
Right...I believe if we cut him now it would be applicable to the post June 1st cut rules in regard to the salary cap and bonus money. Any non-guaranteed monies should be freed up and available under the cap. Atlanta would then have to sue Vick for the bonus money Vick is guaranteed by his contract. I believe the breach of contract only allows the Falcons to recover bonus money paid.
I know Cappy, BB or Pudge can probably better fill in the details here. In any case the Falcons should get a nice cushion this year and I don't believe they will suffer from the accelerated bonus hit next season. If this is true then the Falcons will be in position to be a move and shaker in the off season.