Reading a few things on Twitter, this basically is telling the league
Hey, Tyrod Taylor is available to sign elsewhere, because we're not signing him next year for the money he would be due. I don't know the specifics of contracts, but this is what a couple tweets I saw alluded to.
I think he'd be owed $16M+ next year if he's on the roster at some specific date (I think a few days after the draft).
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In response to this post by JoesterVT)
Posted: 11/15/2017 at 2:05PM