Miami Dolphins cut cornerback Cortland Finnegan

The Miami Dolphins have cut cornerback Cortland Finnegan.

Finnegan, 31, would have pinched the Dolphins' salary cap for $6.475 million this coming season, but cutting him reduces that dead-money number to a mere $1 million. In an injury-plagued season — despite playing fairly well early on — Finnegan did not have an interception in 2014.

The Dolphins were busy last week, hacking wide receivers Brian Hartline and Brandon Gibson, and now they've shaved more cap space by cutting Finnegan. Is Mike Wallace next? Don't be shocked if the Dolphins are active in free agency with some of their newfound cap space.

Finnegan might have a limited appeal on the market with age and injuries working against him. But he could be a valuable addition at the right price for a team seeking to add a little spice to their defensive backfield. Finnegan plays with intensity and confidence and could be a nice fit on a contender with depth issues at corner.

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Eric Edholm is a writer for Shutdown Corner on Yahoo Sports. Have a tip? Email him at edholm@yahoo-inc.com or follow him on Twitter! Follow @Eric_Edholm