I can't say I understand cap implications that well, but here's an excerpt from RamsWire article about Noteboom trade speculation:
"If the Rams were to trade Noteboom, they would save $1.5 million in cap space this year, $5 million in 2024 and $10 million in 2025. If that doesn’t sound like a move the Rams would strongly consider, I don’t know what does. After all, they’re focused on clearing money in 2024 and 2025."
I'd agree that the Rams couldn't get much in return for Noteboom, but it sounds to me like the cap savings might be worth it despite the dead money hit?
Here's the link
Sean McVay said Joe Noteboom won’t practice this week but he was very vague about it. Could the Rams be trying to trade him?
theramswire.usatoday.com