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Sanchez can no longer be signed to a prospect contract once his prospect eligibility ends. You can either sign him to a prospect extension (4 mil at a minimum of 5 years) or sign him to a guaranteed contract of .5 for 1 year.
Breslow and Sanchez signings appear to be after the deadline. Unless someone can show me why, these are invalid.
Dropping sanches would clear 0.5M of cap space but dropping breslow would do nothing for your cap space because he would still have a cap hit of 0.5M for this year. You would still need to clear an extra 0.5M of cap space.
Why? Breslow contract is the same as Sanchez's contract P Breslow, Craig, $0.5m (P-2011), P Sanchez, Brian, $0.5m (P-2011)