Actually you still don't have the space to drop these guys. Dropping them will drop $6000 from you salary but add $9600 in buy out fees. You only have $1600 cap space currently so if you were to drop all of these guys you would then be over the cap by $2000.

the buy out fee for a B4 contract is (0.4 + 0.4 + 0.4 + 0.4) x the salary.

So Neil would be:

1.6 x 1400 = buy out fee is $2200.