Reggie McKenzie inherited a salary cap mess when he was hired as Oakland’s general manager in January 2012 due to the previous regime’s habit of overpaying players. Oakland’s massive amount of dead money results from McKenzie completing a two-year process of cleaning up the cap through a roster purge where Oakland’s five highest paid players (by average yearly salary) in 2012 were let go by the team.
It is amazing that the Raiders haven’t sewn up the first pick in the 2014 NFL draft considering that 43.6 percent of their adjusted cap is devoted to dead money. The Raiders are essentially operating with a $71.7 million salary cap because of dead money.
Four former Raiders are in the top-10 in dead money this year. Richard Seymour ($13.714 million), Carson Palmer ($9.34 million), Rolando McClain ($7.26 million) and Tommy Kelly ($6.324 million) rank first, third, fifth and eighth, respectively.
Three Al Davis first-round picks (Darrius Heyward-Bey, Michael Huff and McClain) were among the players released. Heyward-Bey and Huff are taking up $5.26 million and $3,288,750 of cap space. Huff was a Post-June 1 designation who will count $6,208,750 million towards next year’s cap.
The bright side of the roster purge is that the Raiders should have the NFL’s most cap room in 2014. The Raiders currently have $54,135,620 of 2014 cap obligations with 32 players under contract, while the top-51 cap numbers count towards the cap. If the 2014 salary cap is set at $125 million, the Raiders should have slightly over $61 million in cap space.