While Carolina Panthers owner Jerry Richardson and other team officials have been visiting Raleigh looking for funding for stadium upgrades, general manager Dave Gettleman and the front office have been dealing with their own money matters.
The Panthers have restructured the contracts of two offensive starters – Pro Bowl center Ryan Kalil and running back Jonathan Stewart.
Kalil’s restructuring, which was written into the contract extension he received in 2011, frees up $3.45 million in salary-cap space for the cap-squeezed Panthers.
Carolina is still about $10 million over the projected $121 million cap, so there is more work to do. A big piece of the process is the expected release of veteran cornerback Chris Gamble, who has a cap figure of $10.9 million.
Kalil, who missed the final 11 games last season following foot surgery, received a $5 million signing bonus. But the Panthers decreased Kalil’s base salary from $4.75 million to $750,000, which helped lower his cap figure from $9.85 million to $6.4 million.
Panthers rework contracts for Ryan Kalil, Jonathan Stewart
Charlotte Observer | Feb 16