It would appear the San Francisco 49ers are not messing around with this rebuilding process. Retired wide receiver and new NFL Network analyst Steve Smith is reporting the 49ers are set to release wide receiver Torrey Smith. Matt Maiocco has since confirmed the report.
The 49ers extended Jeremy Kerley over the weekend, but still had a big need at the wide receiver position. Releasing Smith only adds to that need. The 49ers have been connected to Terrelle Pryor, Alshon Jeffery, and Kenny Britt in free agency, and with ten draft picks, they could make noise later next month.
The decision to release Smith clears $4,675,000 in cap space. If he is designated a June 1 cut, the 49ers would clear $7,875,000 in space. Given the 49ers have a ridiculous amount of cap space, there is no reason to use the June 1 designation. The 49ers entered the day with about $90 million in cap space, so this will put them up near $95 million.