I got my dates messed up. March 1 is the date teams have to be under the salary cap. June 1 is the roster bonus date.
Shamelessly stolen from some Cowboys' blog....
Cowboys | Salary cap ramifications of Owens’ release
Wed, 04 Mar 2009 23:59:04 -0800
Clarence E. Hill, Jr., of The Fort Worth Star-Telegram, reports WR Terrell Owens will count $9.675 million in dead money against the Dallas Cowboys’ salary cap in 2009, but they will only lose $680,000 in actual cap money. The team saves $3.1 million in real dollars because he will not receive a June 1 roster bonus. He was previously set to cost the team $8.995 million against the cap
Again I like the move (and cutting Roy Williams too). I think they will better off for it.