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Waiver Process/Salary Cap Updates

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Curious as to how the waiver process works. I assume there must be a time when the league assesses who claimed a player and then awards that player based on waiver priority. Does anyone know when that is?

Also, since people like A Smith, Stovall, J Scott, Fluellen were cut that should open up some salary cap space by exchanging their $700k-$800k salaries for some of the rookie salaries. Interesting to see if they will use this money to sign some higher priced help. Drayton Florence comes to mind...

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