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spartak...i'm sure there would be a cap penalty associated with trading or cutting TO at this juncture, but the worst that would happen would be a 1-year cap hit of whatever money was left prorated from his bonus (right now, probably a fair sum) and they'd be relieved of his salary. for a team like philly who never really runs into cap trouble, this would be a bearable burden if push came to shove, especially if they opted for trading owens and got future draft picks in return.
as with all football decisions, it's a tradeoff, but given his relatively low cap figure last year, it's still hard to argue they "lost" on the exchange.
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