The increase of the salary cap from $123 million to $133 million this year has made it easier for teams to release themselves from some bloated contracts, and the Giants are no different. Baas' hit raises the Giants' dead money figure to $9,228,141 for 2014. Two other major hits in that figure come from the release of CB Corey Webster ($1.25m) and the decision not to bring back TE Brandon Myers ($1.125m).
It's clear very few people in this business, or any other, understand what "dead money" is and how it is applied in the NFL 's salary cap system. I found that the guys over at SteelersDepot.com explained it best (READ).
Or...perhaps this video can help...