Panthers clear $7.25 million in cap space with restructurings
By Mike Dyce
Carolina Panthers general manager Dave Gettleman and salary-cap specialist Rob Rogers have created some more cap space by restructuring three contracts. The moves freed up $7.25 million in cap space.
From Joseph Person of the Charlotte Observer:
"The Panthers restructured the contracts of three veterans – center Ryan Kalil, running back Jonathan Stewart and linebacker Thomas Davis – in moves that created about $7.25 million in cap space.The Panthers created more than $3 million in cap space by restructuring Davis’ contract.Under the terms of the restructured contract, Davis received a $5 million bonus for signing the $16.5 million contract – a figure that includes $1 million salaries for each of the three voidable seasons from 2016 through 2018.Davis was to make $2.75 million in base salary this year, but now he will make the veteran’s minimum of $950,000. His cap number will dip from $6.82 million to $3.57 million for a savings of $3.25 million."
Rogers had asked Kalil and Steward to restructure deals last offseason as well. The Panthers are currently $29 million under the projected cap of $132 million. If the Panthers got Charles Johnson to restructure his deal they could create even more cap space.