Yes, you can. Every team has to pay a QB. Every team. No matter what.
OR, you can choose to have Tyrod Taylor, and Ryan Fitzpatrick, and Ryan Mallet, etc be a caretaker to your team, you'll definitely give those guys a chance.
Money in the NFL is nothing. They gave McNabb 100 million, and cut him a year later. Money is nothing in the NFL.
Everyone said the Seahawks would be screwed when they paid Russ. Their entire defense is locked up and they still bought Lynch and Graham. (they just can't figure out how to use Jimmy for some weird reason)