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Hey Cy, first thanks for reading. Now, let me try and shed some light here. Dead weight contracts are a little tricky. But basically, it's the remaining money leftover from the signing bonuses that the Cowboys have cut or the money left in a players contract for the season, if they were cut in season. This means Dallas is still paying players like Terrence Newman, Marion Barber and Stephen McGee even though they are no longer on the roster. And no, they will not by any players out, at least for their contracts. Players can be cut without penalty in the NFL, the team just has to pay the remainder of their signing bonus. So, it wouldn't be surprising to see Dallas cut someone like Doug Free. However, the remainder of the signing bonus does count against the cap.
I hope that helps. And if you want to know anything else about how the salary cap works, here's a link to a pretty good primer.