First, towards your cap question, yes Denver and Washington are over the cap heavily.
You can do that by restructuring contracts, cutting players, Redsking are noted for doing that, take for example Lavar Arrington. Reportedly he was cut out on a 5 million pay he was suppose to get, and the Commanders did it to him.
Next, the cap this year is reportedly going to go up from 82 million towards 92 million. But, the CPA aggreement between the players and owners hasnt been signed yet. If it is not signed by March 3rd, then a lot of teams like Commanders, Denver would have to cut players, their contracts esculate.
So, to offset that, not sure whom is trying to up the cap, but reports are that it is suppose to go up from 82 to about 110 million to 115 million. If it does that, it gets teams like Commanders and Denver out of cap hell, and they will be available to sign players like Owens if they so choose to do so.
Cold pizza is reporting that 4-5 teams are interested in him, and he will just probably wait till eagles cut him to go to team he wants. I would rather have Owens in Dallas instead of Commanders. I am not saying that i like him, what he did about stepping on our star during a game. And his mouth. Just think though, with santana moss, and if you add in Owens, how are you going to stop them on offense, that then will open us their runner too. They will really be hard to beat then.
Again, cold pizza is reporting some teams just want to win, and sign owens to a one year deal, with incentives, for like so many touchdowns, playing in playoffs and super bowls, penalities against talking his mouth off, etc. You could sign him to about 1.5 million with incentives. Just something to think about, hope that helps your question.