I'm not one to give away prospects for cap relief, so my recommendation to you would be to make player search your best friend. There are tons of teams in every league with a wide variety of position players and pitchers that are undervalued. I was in this boat a few seasons ago with my Houston squad, but I traded like a madman with people who were all but giving their "AAAA" players away. After a season or two of productivity out of them, you can either include them in bigger trades or keep them as cheap role players when you've got the cap to go wild in free agency.
Try to start with a few attributes you might value highly that other people may not. For instance, I'm fine with a pitcher that has mediocre splits if he has above average control and GB/FB. I'm fine with almost any type of hitter who is a plus-defender with high batting eye. There are steals to be made; it just might take some work to find them.