Cap Savings: $5,000,000

Even the Super Bowl champions have to make difficult decisions, especially when they have so little cap room to work with. With this in mind, it makes sense that the Philadelphia Eagles should wave goodbye to Torrey Smith. Despite a solid showing during the playoffs, including 5 receptions for 69 yards in the NFC Championship game against the Minnesota Vikings, Smith was mostly inefficient in the regular season. His 11.9 yards per reception was a career low, as were his 2 touchdowns.

The Eagles have Alshon Jeffery and Nelson Agholor under contract, while promising second-year player Mack Hollins offers a similar skill set to Smith's and is a lot cheaper.