The team announced on Tuesday morning that Mays has been released, which will erase his $4 million base salaries in 2013 and 2014, creating approximately $3,333,332 in cap room this season.
In 2012, Mays signed a three-year deal with the team that included a $500,000 signing bonus. That bonus is counted against the cap in three increments of $166,667 over a three-year period.
That means the team now has $833,334 in dead money over the next two seasons, which is a relatively low number, especially considering how much they saved by parting ways with Mays (nearly $6.7 million over the next two seasons).