Shaun Alexander, who rushed for over 1,800 yards two years ago and was featured on the cover of Madden, has been cut by the Seattle Seahawks.

Alexander, who is signed through the 2010, is scheduled to make $4.475 million this season. The Seahawks have two possible ways of releasing him. They could simply terminate his contract. If they do that, they would have a cap loss of $125,000.

Seattle could also release him under a June 2 designation in which they would put save the $4.475 million salary on the 2008 cap and then be responsible for $4.6 million on their 2009 cap. With more than $12 million of cap room remaining, the Seahawks may just simply give him his outright release and take the cap hits this season.

Whoever Alexander signs with, it’s sure to generate some fantasy buzz. I picked him this last year, thinking he’d gain more than 600 yards on the season, but feel whatever team he signs with at a lesser contract may motivate him to actually, you know, break a tackle or out-run somebody.