The Carolina Panthers added $3.25 million worth of cap space by restructuring linebacker Thomas Davis’ contract per the Charlotte Observer. Carolina picked up the option for the last two years of Davis’ contract last week, but now have added three additional years to the deal to complement a $5 million signing bonus. By adding three years, the Panthers can stretch the cap hit of the bonus money even further. Davis’ base salary this year decreases from $2.75 million to the veteran’s minimum of $950,000. More importantly, his cap number drops from $6.82 million to $3.57 million, saving $3.25 million.
The oft-injured Davis has now restructured his contract four times in the past three years. He had one of his best seasons in 2013, finishing second on the team in tackles behind NFL Defensive Player of the Year Luke Kuechly. Davis’ long-term prospects are something to watch as he’s now 30 years old and has undergone three ACL surgeries on his right knee.
Davis isn’t the only veteran expected to restructure his contract. The Observer is also reporting that defensive end Charles Johnson and center Ryan Kalil are also strong possibilities for re-worked deals to help give the Panthers desperately needed cap flexibility.