According to multiple sources, the Seahawks will be releasing WR Sidney Rice sometime in the near future. The big money contract he signed back in 2011 was pretty much the archetypal high risk/high reward type deal.
It was a signing that I defended at the time, and one that I still think was well worth the risk. When he's healthy, Rice is a big-bodied gazelle of a receiver who makes clutch catches in tight coverage look routine. Unfortunately for him, he battled injuries throughout his entire tenure with the team, missing 15 games in three seasons (18 if you include this year's playoffs). His best year came in 2012, when he played all 16 regular season and 2 playoff games and led the team in receptions (50), receiving yards (748), and receiving touchdowns (7, tied with Golden Tate).
Rice's departure is purely a move to free up cap space for the 2014 season. Going by the $130 million cap size being reported for 2014, the Seahawks are currently $2.85 million under. I'll be laying out the whole cap picture for the Seahawks in an article next week, but for now I'll just say that clearing Rice off the books wil more than triple the Seahawks' cap space to $10.15 million ($9.7 mil 2014 cap hit – $2.4 mil dead money = $7.3 mil saved), which should give them some room to maneuver as they begin to work to re-sign key free agents like Tate and Michael Bennett.