Cap Savings: $5 million

Eagle-eyed readers will remember that Torrey Smith appeared on this list last year when he was a member of the Philadelphia Eagles. The Eagles didn’t cut Smith, but they did trade him to the Carolina Panthers.

Smith played only 11 games in 2018, corralling 17 of his 31 targets for 190 yards and a pair of touchdowns. He eclipsed 50 yards in a game just once, ironically against the Eagles in Week 7.

The Panthers have a nucleus of young talent at the wide receiver spot, with last year’s first-rounder D.J. Moore and Curtis Samuel at the forefront. Smith hasn’t had more than 430 yards in his last three seasons and is five years removed from his only career 1,000-yard season. The Panthers will struggle to justify paying him $5 million in 2019, especially since cutting Smith results in no dead money.