Loomis: Next Saints Head Coach will decide their own staff and direction at Quarterback

The dead money hits either way. Maybe there is a chance that he would reduce his salary to facilitate a move to a team he wants to go to that will make up the money difference in a new contract. But, given how he made sure to fork the Raiders on the way out of the door, that doesn't seem likely.

Yep, in fact a trade before June 1 results in far less cap savings than a post 6/1 cut.

The ideal path cap-wise is a post 6/1 trade, but that's not happening for so many reasons typically (having to carry the actual cap space, finding a team willing to wait for their QB until June, etc).