What moves could the Carolina Panthers make to clear a significant amount of salary-cap space during the 2023 offseason?
If the Carolina Panthers want to put head coach Frank Reich in a position to succeed immediately, they must put themselves in a better financial state. Things look tight from a money standpoint despite the salary cap going up, which means those in power have some big decisions upcoming this off-season.
According to Spotrac, Carolina is $9.56 million in the red. This indicates some serious sacrifices need to be made if the Panthers want to become big players when the free-agent frenzy begins.
There is also the small matter of giving stud defensive end Brian Burns a bumper new contract to consider. Others such as Bradley Bozeman and D’Onta Foreman could also be extended depending on their contract demands.
Using the Over the Cap calculator, we picked out six moves that can save the Panthers a little more than $50 million against their cap in 2023.
Move No. 1
Carolina Panthers could cut Damien Wilson
- Cap savings: $3.61 million
It didn’t take long to figure out that Damien Wilson’s arrival in free agency wasn’t going to work out. The linebacker’s production was inconsistent at best and when Steve Wilks became interim head coach, he was seldom seen on the defensive rotation.
Despite a new coaching regime in the fold, cutting Wilson with one year remaining on his deal – saving $3.61 million – appears to be a no-brainer all things considered.
Carolina Panthers could restructure Taylor Moton
- Cap savings: $11.14 million
Samir Suleiman is gaining a strong reputation in league circles as a potential general manager one day. This is thanks in no small part to his salary-cap management since joining the Carolina Panthers.
It hasn’t all been a bed of roses for Suleiman. But he’s made the best of a bad situation and the front office figure will have a lot riding on his performance during the 2023 offseason.
One of the best ways to free up additional funds is by restructuring contracts. This kicks the can down the road to a certain extent, but it also provides much-needed cash to spend on positional groups in desperate need of upgrades.
Taylor Moton is one of Carolina’s highest-paid players after a standout start to his NFL career. The stud right tackle remains a consistent performer on the protection, giving up three sacks and conceding six penalties from 1,018 snaps en route to a 69.3 grade from Pro Football Focus in 2022, becoming one of the team’s primary leaders to further enhance his influence.
The former second-round pick is set to count a whopping $24.54 million against Carolina’s cap next season. If Suleiman can work out a restructure with the Western Michigan product, it represents savings of $11.14 million according to Over the Cap.
Moton gets his money either way. So this should be an easy one to work out.
Carolina Panthers could cut Pat Elflein
- Cap savings: $4.26 million
The Carolina Panthers’ offensive line was a major bright spot in 2022. Every starter played their part, the unit remained relatively healthy until late on, and the superior coaching from James Campen got them all on the same page quickly.
This was further reflected in some eye-catching improvements from Pat Elflein. The center started the campaign despite the free-agent addition of Bradley Bozeman and performed much better than many anticipated after such a torrid first year with the franchise.
Elflein looked solid in pass protection and carved out some useful running lanes on the interior for good measure. His communication pre-snap was another notable element of his production that deserves credit.
The former Ohio State star suffered some bad luck when he went down with a season-ending hip injury. Bozeman grabbed his opportunity with both hands and did more than enough to warrant a new contract rather than letting him test the free-agent market.
After restructuring his contract last year, Elflein counts $7.06 million against the cap in 2023. Considering Bozeman’s rise to prominence and the $4.26 million saved with his early release, this is another relatively easy decision for the Panthers.
Carolina Panthers could restructure D.J. Moore
- Cap savings: $12.72 million
As stated previously, Samir Suleiman will be exploring every possible avenue to put the Carolina Panthers in a strong position in free agency. Something that could be enough to acquire the right players and allow Frank Reich an opportunity to firmly establish the team as playoff hopefuls.
Looking at the NFC South, it might be there for the taking. Especially if legendary quarterback Tom Brady retires or decides to move on from the Tampa Bay Buccaneers this offseason.
Restructuring deals will be discussed and likely be well received by players. After all, they’re getting pretty sick of underachieving, too.
One player that’s experienced that plenty since arriving in Carolina is D.J. Moore. The wide receiver’s production has been first class considering the lack of consistent quarterback play, which deservedly came with a lucrative new deal last spring.
Moore is the team’s highest earner in 2023 with a salary-cap hit of $25.04 million. If all parties agree to a restructuring, then it’s projected to provide the Panthers with an extra $12.72 million.
This huge sum can be a massive asset to tempt established veterans capable of making an immediate difference. Something that Moore also craves after years of underachievement or worse since he became Carolina’s first-round selection in 2017.
Carolina Panthers could cut/trade Shaq Thompson
- Cap savings: $13.16 million
Shaq Thompson‘s future with the Carolina Panthers is a source of heated debate among fans right now. The linebacker remains influential on and off the field, but the NFL is a business and there are significant financial factors for those in power to consider.
This has everything to do with Thompson’s salary cap hit on the last year of his deal. The former first-round pick’s number currently stands at $24.46 million, which stems from a series of contract restructures to reach this point.
Thompson put up career numbers in tackles last season and made a lasting impact as the team’s most established leader. Had Steve Wilks gotten the permanent head coaching job things might be different, but the savings involved with a trade or early release cannot be ignored.
Cutting Thompson or shifting him to another team comes with $13.16 million to spend elsewhere. The dead cap figure is more than $12 million, but it paints a realistic picture all the same.
The Washington product would leave a gaping hole on the defensive second level and within the locker room. But the Panthers have a bevy of high-end selections to draft his potential successor should the opportunity arise.
This is one of the more intriguing situations within the Panthers this off-season. Something that plenty of teams around the league will also be watching with interest.
Carolina Panthers could restructure Austin Corbett
- Cap savings: $5.94 million
Austin Corbett’s arrival in 2022 free agency was a masterstroke by the Carolina Panthers. One that solidified a problem position at right guard and also brought a winning mentality to the locker room for good measure.
Corbett’s season ended on a sour note with a torn ACL in their season-finale at the New Orleans Saints. However, his production before that was nothing short of exceptional.
The former Nevada stud gave up two sacks and conceded two penalties from 985 snaps to secure a 69.1 grade from Pro Football Focus. Corbett provided assurance and leadership that was sorely lacking, which would be a huge miss if he was unable to make it back in time for Carolina’s 2023 opener.
Corbett is hoping to return quickly after successful surgery. But the Panthers must form a contingency plan in the event his rehabilitation suffers a bump in the road at some stage.
Acquiring decent free-agent offensive linemen isn’t cheap. Carolina could also go down the draft route in pursuit of improving depth with Cam Erving also out of contract.
Restructuring Corbett’s deal with two years remaining saves the Panthers $5.94 million in 2023. Combine this with the other possible moves and Carolina would boast substantial ammunition to emerge from obscurity and into playoff contention.