From ESPN.com Linky
As anticipated, the Atlanta Falcons have guaranteed a $7 million March roster bonus due quarterback Michael Vick, a move that creates about $5.25 million in additional cap space, and which will help the club squeeze under the NFL's spending limit of $94.5 million by the Thursday night deadline.
ESPN.com has confirmed that the Falcons on Thursday will release 10-year veteran defensive end Brady Smith, which will save $2.5 million against the salary cap. Smith, 32, was limited to a career-low five appearances in 2005 because of injuries. He underwent neck surgery in July, which forced him to miss training camp and then, after returning sooner than expected, suffered a foot injury that ended his year.
Those two moves put us about 1 or 2 million shy of being under the cap I believe.