Gill Brandt on the deal:
$11MM Signing Bonues
2016: $5.5MM prorated signing bonus + $7MM guaranteed base salary = $12.5MM cap hit (guaranteed money)
2017: $5.5MM prorated signing bonus + $13MM base salary ($4MM is guaranteed) = $18.5MM cap hit ($9MM cap savings if cut)
However, there is apparently also another $4MM in guaranteed money if he gets hurt.
So if you cut him because he sucks in 2016, you are looking at a $22MM in guaranteed money. If he gets hurt, you are looking at $26MM in guaranteed money.
I just don't know why they just didn't tag him. Would have cost them $19MM and they could have walked at year end.