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How should this impact current contracts being offered? It would make me leery of a big contract this summer, but for summer 2015, it's a better deal. Amnesty of contracts seems to be a given in pasts CBA negotiations, and it makes sense for both sides.
The owners get to get rid of a cap figure who isn't performing to his contract, and open up cap space.
The players get fully paid on the contracts, and the cap money is used to sign a fellow union member to a contract.
Only cheap owners would be against not only one amnesty, but why not two? Rich owners and player union members would want as much money available to improve their team, and their wallet, respectively.
The owners get to get rid of a cap figure who isn't performing to his contract, and open up cap space.
The players get fully paid on the contracts, and the cap money is used to sign a fellow union member to a contract.
Only cheap owners would be against not only one amnesty, but why not two? Rich owners and player union members would want as much money available to improve their team, and their wallet, respectively.

. It was a long few months leading a project, but I'm back to normal for a couple of weeks...and I can't miss draft time. 