Mike Williams is the most obvious cap casualty imaginable this offseason. With the Chargers well over next season's projected salary cap, it makes all the sense in the world to part ways with Williams after his torn ACL and free up over $20 million in cap space in the process.
While it makes a lot of sense from a financial standpoint (and is a necessity for the Bolts), it does leave the team in a precarious spot at wide receiver. Keenan Allen is getting older, Joshua Palmer can't stay healthy and Quentin Johnston may be a stone-cold bust. Derius Davis is great on special teams, but he is not someone who is going to be an offensive staple.
Even if the Chargers draft a receiver in the first three rounds the team is going to need at least one more body for depth. That is where free agency comes into play. The Chargers may not have much to spend, but they can sign a cheap veteran to a one-year deal to provide the depth that is needed.
3 wide receivers the Chargers may sign to replace Mike Williams:
Donovan Peoples-Jones
The numbers were not great for Donovan Peoples-Jones last season and the advanced metrics were ugly as well. Peoples-Jones was among the worst receivers in creating separation last season and that may be a massive red flag for the Chargers.
That being said, Peoples-Jones is still only 24 years old and has proven that he can have productive seasons at the NFL level. Even if he does not create a ton of separation, he is a great jump-ball receiver, which is what the Chargers need with Williams no longer on the roster.
Sure, it might not be the most talented option, but Peoples-Jones fits the profile that the Bolts are looking for and has ties to Jim Harbaugh as he played under him at Michigan. The fit makes sense, and the price will too.