[Goose]

However, for the purpose of calculating monies against the salary cap, all bonuses regardless how much they total, are spread over the length of the contract.  Therefore, a $100,000 bonus (for a low round draft choice) on a five year contract would result in $80,000 in dead money if the player is released after year one.  As you noted, beyond the bonus, a player’s annual salary is not guaranteed beyond the first season in most rookie contracts.  

I’m predicting Round 3 to the Steelers.  That gives him a chance to “redshirt” his first year behind Rodgers.

Your prediction seems plausible to me. It is very unlikely that a team desperate for a QB immediately would take a chance on Sorsby. The Steelers have at least a year before they have to decide who will be "next". 

There is a mandatory bonus paid to each draft participant based on their draft order. If that player is released all the remaining bonus ("dead money") is counted that year. If Sorsby falls to the later rounds his dead money hit will be round-off error in the salary cap computation. OTOH even the third round would be 1.2 million if Sorsby is released after year one. That isn't "a lot" by current NFL standards, but it is no longer negligible. Right now the Steelers are pretty close to the cap limit but they have significant wiggle room through restructured contracts available. Cap space is probably not an immediate issue for them.

 
It will indeed be interesting to see where Sorsby lands. My belief is that he will be considered "damaged goods", and the Raiders already have their QB so their "wild card" approach is off the table :-). IMO there is at least a 20% chance he goes undrafted.

[Goose]

However, for the purpose of calculating monies against the salary cap, all bonuses regardless how much they total, are spread over the length of the contract.  Therefore, a $100,000 bonus (for a low round draft choice) on a five year contract would result in $80,000 in dead money if the player is released after year one.  As you noted, beyond the bonus, a player’s annual salary is not guaranteed beyond the first season in most rookie contracts.  

I’m predicting Round 3 to the Steelers.  That gives him a chance to “redshirt” his first year behind Rodgers.

Your prediction seems plausible to me. It is very unlikely that a team desperate for a QB immediately would take a chance on Sorsby. The Steelers have at least a year before they have to decide who will be "next". 

There is a mandatory bonus paid to each draft participant based on their draft order. If that player is released all the remaining bonus ("dead money") is counted that year. If Sorsby falls to the later rounds his dead money hit will be round-off error in the salary cap computation. OTOH even the third round would be 1.2 million if Sorsby is released after year one. That isn't "a lot" by current NFL standards, but it is no longer negligible. Right now the Steelers are pretty close to the cap limit but they have significant wiggle room through restructured contracts available. Cap space is probably not an immediate issue for them.

 
It will indeed be interesting to see where Sorsby lands. My belief is that he will be considered "damaged goods", and the Raiders already have their QB so their "wild card" approach is off the table :-). IMO there is at least a 20% chance he goes undrafted.