Report: Panthers Attempting To Trade WR Steve Smith

Ian Rapoport reports that the Panthers are attempting to trade veteran WR Steve Smith.

• The Panthers Nation twitter account mentioned that Smith’s jersey have been removed from the online team store earlier in the day.

There has been speculation that Smith could be on the chopping block dating back to the Scouting Combine a few weeks ago. However, based on Smith’s contract, it makes sense that they would explore a trade first before considering releasing him.

Smith, 34, still has three years remaining on his four-year, $37.75 million contract and will count $7 million against the team’s 2014 salary cap. He totaled 64 receptions for 745 yards and four touchdowns.

Releasing Smith outright doesn’t appear to be an option given that they would take a cap hit of $2 million by releasing him, according to OverTheCap.com. Carolina could designate him as a Post June-1 release, which could give them $4 million in cap relief that could be used to sign their draft class.