This is the first cap casualty that hurts.
Sanders was good. He put up 600+ yards with Brees who couldn't even fully utilize Sanders' down field threat ability and Taysom Hill. All without MT for 11 games too.
Now we just have Mike, Tre'quan (forever a #3), and Callaway (he has potential and I think he's gonna be good but idk if he's ready to be a #2 in 2021). We have Deonte who could have literally beat Tampa for us in January by himself but his size is a detriment and he always gets hurt.
Yeah, losing Sanders sucks.
A lot of these players who are cut will be brought back, but at a reduced cap number. The money just won't be there for some of them on the open market and that's what their former team is hoping.
Get under the cap and figure out the rest later.