How much cash could the Panthers free up with restructures in 2022?

How much money could the Carolina Panthers potentially free up by restructuring current contracts ahead of a crucial recruitment period in 2022?

Things are tighter than they perhaps should be from a financial standpoint where the Carolina Panthers are concerned this offseason. A series of poor personnel moves leave the organization with just $17.82 million available right now, which is going to restrict their ability to sign the necessary quality in free agency to get this franchise trending in the right direction.

Carolina only has itself to blame for this predicament. But there needs to be a drastic change in their thought process after Matt Rhule was given one final opportunity by team owner David Tepper despite some increased pressure on the head coach after winning just twice over their final 14 games in 2021.

The Panthers know exactly what’s at stake this offseason. Another failed recruitment period could have grave consequences for those in positions of power, so it’s absolutely essential almost every move is made with conviction and more importantly, is the correct one.

Money is at a premium and there are also a number of established roster members also looking for new contracts in the immediate future. Some tough decisions are upcoming, but there is a way the Panthers can free up some additional resources by restructuring contracts with some of the team’s biggest earners.

Carolina Panthers could free up millions by restructuring contracts in 2022

This is a scenario highlighted in a recent feature by Over the Cap, who calculated just how much each NFL team could accumulate with either simple or maximum contract restructures in the coming weeks.

The team at Over the Cap provided a definition of what a simple restructure consists of.

"“A simple restructure converts payments into prorated signing bonuses within the confines of the remainder of the contract. Teams typically have the ability to unilaterally execute simple restructures without any action necessary from the player.”"

In this situation, the Panthers could get themselves a substantial amount of cap space, taking their total to $43.02 million. A figure that would certainly help tie down existing players of need and boost problem areas of the roster for good measure.

Now, the maximum restructure is more complex and explained well by OTC.

"“A maximum restructure increases the amount of cap space via conversion into prorated signing bonuses by either extending the contract or by adding void years to a contract, years that do not extend the contract but are only used as placeholders for the proration. Maximum restructures are typically considered a renegotiation of the contract that requires the player’s consent to execute.”"

Should the Panthers explore this option, their cap number could surge to around $82.67 million. Considering what’s on the line for Rhule and others in 2022, thinking long-term might no longer be an option and this would allow them to be major players in free agency.

This critical task will fall on the shoulders of Samir Suleiman, the Panthers’ salary-cap guru who was recently given a deserved promotion by the franchise. He is hugely respected in league circles and if the influential front office presence can work his magic this time around, the better Carolina’s chances will be.

Things are teetering right on the brink for the Panthers this offseason. The margin for error has evaporated and given Rhule might not see 2023 in the role if things continue in a similar fashion next season, kicking some money down the road is virtually guaranteed.

Just how much that eventually becomes remains to be seen.