When you trade a guy to another team, you're on the cap hook for his remaining signing bonuses and any other bonuses already earned, but not his upcoming salary and bonuses going forward. If no team wants to bite on Cutler's guaranteed salary, da Bears can convert some of it to a bonus, pay Jay now, and take the cap hit for it, but at least move some of his future salary off their books and cap. It's like selling last year's model at a loss just to get it off your lot.

Actually, it's a lot like that.