By allowing Parker to fail a physical before releasing him, the former Giant will receive an additional $250,000.
The Giants were going to save $1.45 million under the cap whether they extended Parker the option of the physical or not. They didn't benefit from it at all.
"He came in here at a time when we needed veteran guys with personality and he definitely had that," Jim Fassel said. "I thought he did a good job for us for two years."
Both the Redskins and Chargers have contacted Parker about continuing his career.