I'm not sure about the financial thing - they're taking a big hit on the salary cap. I think $9M?
But they've done quite a bit of cutting of the bad eggs this off season - Pacman Jones, Tank Johnson, and now T.O. Plus they traded starting cornerback Anthony Henry to Detroit for backup QB John Kitna. Zach Thomas was let go, and it's looking like SS Roy Williams may be on his way out, too.
They've got alot of holes to plug suddenly, and no 1st round draft pick, thanks to the overpaying for WR Roy Williams.