Usually key players offer to restructure their future pay in order to stay on teams that are doing well. That is not the case with Owen Daniels and the Houston Texans because to be honest, the Texans really stunk it up last season.
Rather than keep Owen Daniels at a reduced rate, the Texans opted to cut him altogether. This move did save the Texans $4.5 million against the cap. They may need that money if they aren't able to land a decent quarterback in the draft. However, it also moves second string tight end Garrett Graham into a starting position.
Who is surprised though? Graham did start after Daniels was injured in week 5 and didn't do a horrible job. Graham is also younger and has a lot more miles to play than Daniels. He also costs less.
Owen Daniels shouldn't be worried about his future in the NFL though. He is a veteran, Pro Bowl caliber tight end. There also happens to be a shortage of great tight ends in the league so he will appeal to other teams despite his age. He's still one of the top tight ends in the NFL.