I have said several times but I try to lock up Velasco in the 3 year - $7-8M range, with a cap hit around $2M or so for next year. I have read a few mixed things wrt Pouncey's contract for next year. It looks like he is due some sort of roster bonus, but not sure the amount. What I am pretty sure about is that the cap savings from cutting him is somewhere between $3.4M - $4.2M. I would take that savings for Velasco in a heartbeat.
I think they have to sign Velasco as a precaution to Pouncey going Mike Wallace on us and having ridiculous contract demands he isn't worth.
Not as sold on Pouncey as you clearly are. He is good and a solid Center but I don't think he is worth what he is likely going to be asking for especially given he is missing multiple games every year.