Exactly! 300k a week on absolute dross that offers next to nothing in terms of putting points on the board (which is our uttermost and primary objective). That's the equivalent of four boss 75k a week players, or three absolutely boss 100k a week players.
I believe your figures are slightly inaccurate though, Pienaar is on about 73k per week. Atsu will be on more, whilst Hibbert, Osman and Distin are on slightly less
Alcaraz and Distin are out of contract in June and will definitely be off, so that's an 80k saving. Pienaar, Osman, Gibson and Hibbert are all in contract until June 2016, and they won't be going anywhere because nobody will come close to matching their current wages, so we are left with them for another very expensive season in which they will be costing almost 200k to do nothing.