Last night,ย Brian McIntyreย mentioned that the Panthers restructured the contracts ofย Cย Ryan Kalilย and RBย Jonathan Stewartย in order to createย some immediate cap relief.
Joe Personย reported earlier in the day that the Panthers also restructured the contract of LBย Thomas Davis.
The Panthers freed up close toย $7.25ย millionย in cap space with these moves and are now expected to beย $29ย million under the 2014 salary cap based a few projections floating around on the Internet.
- It’s worth noting that the Jason Fitzgerald and Joel Corry both have the Panthers at closer to $19 million in cap space, so the $29 million could actually be overstated.
Given their current financial situation, the Panthers could conceivablyย re-sign or even franchise tag free agent DE Greg Hardy in the coming weeks. The franchise would run the Panthers close toย $12.6 million guaranteed next season.
Previous reports have mentioned that Hardy couldย be targeting a deal that would surpass the six-year, $78 million contract Panthers signedย DEย Charles Johnsonย to a few years ago.
Many expected Hardy to test the open market based on the cap issues that Carolina has been dealing with, but they could actually increase their cap space even further by reworking the contract ofย Johnson, who has a staggering $16.4ย million cap figure.
There is, of course, a price for restructuring all these contracts as the Panthers are essentially pushing off cap hits to future years, which is the reason why the Pittsburgh Steelers have cap issues every year.
The Panthers have a number of free agents to address as well including:ย CBย Captain Munnerlyn,ย LTย Jordan Gross, G Travelle Wharton,ย WRย Ted Ginn,ย CBย Drayton Florenceย andย Sย Mike Mitchell.
We have Hardyย listed as the No. 2 player in ourย Top 50 Free Agents list.
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