What remaining salary-cap crunches must the Carolina Panthers consider making to strengthen their position ahead of free agency in 2023?
The Carolina Panthers are frantically trying to put themselves in a solid position ahead of free agency and the upcoming legal tampering period. This is always one of the busiest and most important stages of the offseason process, which could go a long way to determining how successful Frank Reich can become during his first season as head coach in 2023.
Dominos have begun dropping around the league now that the NFL Scouting Combine has concluded. The Panthers also made an expected move on Monday evening by relating veteran linebacker Damien Wilson after just one year according to Jordan Schultz of theScore.com.
Wilson came in under a cloud following his offseason arrest and was unable to fit in effectively. This saves the Panthers around $3.6 million against their 2023 cap. But more is needed for Carolina to emerge as an attractive free-agent destination.
With this in mind, here are four remaining camp crunches the Panthers must consider in the wake of Wilson’s release.
Cap Crunch No. 1
Carolina Panthers cut Pat Elflein
- Cap savings – $4.26 million
While Pat Elflein performed better than many anticipated last season before his campaign was cut short due to injury, it makes no sense to keep him around on his current cap figure. Especially if a contract extension is confirmed with starting center Bradley Bozeman.
Releasing Elflein with one year remaining on his deal saves the Carolina Panthers $4.26 million. Once Bozeman signs on the dotted line, this seems like a pretty easy decision for those in power.
Carolina Panthers cut Shaq Thompson
- Cap savings – $13.16 million
There is a growing belief that Shaq Thompson‘s days with the Carolina Panthers could be at an end. The veteran linebacker performed well last season and is a supreme leadership presence within the locker room, but his $24.46 million salary-cap hit has to come down in some capacity before free agency begins.
Thompson has stated his desire to stay but added taking a pay cut isn’t exactly high on his list of priorities. If some common ground cannot be reached, then the Panthers will part ways with one of the last remaining members of their memorable run to the Super Bowl in 2015.
Losing Thompson, while saving $13.16 million against the team’s 2023 cap, leaves a hole at the defensive second level. Something the Panthers can fix either through free agency or via a talented young recruit from the college ranks.
Having $11.3 million added to the dead-cap total isn’t exactly ideal. But the positives far outweigh the negatives financially in this scenario and if a new, backloaded deal isn’t agreed upon in the coming days, the former Washington stud will hit the market for the first time in his NFL career.
Thompson’s future should become clearer before the legal tampering period. For fans, it’s worth remembering that the NFL is a business before all else, so paying this sum for a consistent but non-elite linebacker is absolutely out of the question.
Carolina Panthers restructure D.J. Moore
- Cap savings – $12.72 million
The Carolina Panthers can also free up some extra resources by restructuring some of their higher earners heading into free agency. Something the team’s already done with Austin Corbett, one of last season’s best free-agent signings.
Looking at the current state of affairs across the roster, restructuring D.J. Moore‘s deal seems likely. The wide receiver lost his 1,000-yard receiving yard streak last season thanks to a run-heavy approach and suspect quarterback play, but his importance to the Panthers cannot be understated moving forward.
Moore could be the player that benefits most from a new and improved coaching staff led by an offensive mind in Frank Reich. However, for that to happen, the Panthers must get their next decision correct under center.
Nobody will be happier than Moore if Carolina gets a blue-chip prospect from the college ranks. Aside from Cam Newton’s dominant start to the 2018 campaign, the one-time Maryland star hasn’t had competency from his signal-caller and this is something that has to change.
Restructuring Moore’s contract saves the Panthers around $12.72 million according to Over the Cap. This can be used to attract top-quality free agents or keep current roster members around long-term.
Carolina Panthers restructure Taylor Moton
- Cap savings – $11.14 million
Kicking the financial can down the road is becoming increasingly prevalent across the NFL. Teams are manipulating the salary cap more than ever before, which is further highlighted by the New Orleans Saints signing quarterback Derek Carr to a bumper deal when they are $25.17 million over the cap currently.
Carolina won’t want to do too much with an abundance of salary-cap space available in 2024. However, if the front office wants to maximize this coaching staff while they are all together, the time for sacrifices and maneuvering is now.
Taylor Moton had his contract restructured last season and could be in for the same again this time around. The veteran right tackle remains a hugely influential presence on and off the field, so this one should be pretty simple to work out given how long the former second-round pick will be on the books.
Moton’s quiet leadership behind the scenes only heightens his overall influence. Therefore, the player will be all too aware of how important this season is considering there hasn’t been much in the way of success since he joined the Panthers out of Western Michigan.
Restructuring Moton’s contract in 2023 saves Carolina $11.14 million. If all the things listed come to fruition, then the Panthers have an additional $41.26 million to re-sign players, add more talent, and sign their draft class with eight selections currently.