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March 01, 2013

Olsen restructuring helps Panthers with salary cap

The Panthers continue to make moves to get under the salary cap by the March 12 start of the league year.

Tight end Greg Olsen has restructured his contract, converting base salary to bonus money in a move that created $2.4 million against the cap, a source with knowledge of the situation said Friday.

With the cap expected to be at $123 million, according to an NFL.com report, Olsen's restructuring leaves the Panthers approximately $6.6 million over the cap.

Olsen becomes the fourth player to restructure his deal this offseason, joining center Ryan Kalil, running back Jonathan Stewart and free safety Haruki Nakamura.

The Panthers are expected to release a pair of veteran defensive starters – cornerback Chris Gamble, who has a cap figure of $10.9 million, and defensive tackle Ron Edwards ($3.3 million cap number).

Cutting Gamble and Edwards would free up $10.4 million against the cap.

Olsen, 27, who is signed through 2015, was scheduled to make $3.75 million in base salary this year. His total compensation will not change, but the shift of the base to bonus money is more cap-friendly for the Panthers, the source said.

Olsen is coming off the best season by a tight end in Panthers' history. He caught 69 passes for 843 yards to break Wesley Walls' single-season records in each category.

--Joseph Person

 

Posted by Observer Sports on March 1, 2013 at 11:51 AM | Permalink

Comments

Great move for all involved

Posted by: PantherHead | Mar 1, 2013 12:00:24 PM

Why in the world is Haruki Nakamura still on the team??

Posted by: Jon | Mar 1, 2013 12:10:11 PM

PantherHead u are right.when i saw that Hiroshima or Nagasaki is still on our team,it made me go get a beer from the fridge to forget all the bad plays he made.this sucks if he is still with the panthers.the guy should go wrestle or something he already has a name

Posted by: primetime | Mar 1, 2013 12:20:01 PM

I am not sure why Nakamura wasn't cut after the Falcons game last year.

Posted by: Eric | Mar 1, 2013 12:33:32 PM

Cut Gamble, resign Dwan, sign Dunta, draft WR, DT and Safety (in that order)

easy

Posted by: obx | Mar 1, 2013 12:44:43 PM

Does this mean I can stay?

Posted by: J. Gross | Mar 1, 2013 12:57:50 PM

#52 should be next in line to restructure. But if we cut Gamble and Ron Edwards, wouldn't that put us under the cap?

Posted by: Swizzle52 | Mar 1, 2013 1:39:23 PM

And I'll also ask why Nakamura is still on the team?

Posted by: Swizzle52 | Mar 1, 2013 1:39:50 PM

AGAIN........WHY DOES ANYONE THINK WE NEED WR?????

we have 1 elite WR, 1 arguably elite TE, 1 SOLID starting WR and about 4 young wide receivers poised for a breakout year. Why draft WR???? that's so low on the needs list its insane. especially when we SHOULD be running the ball to death with our backfield. Smith easily has at least 3 years in him left, yes we need to eventually replace him, but now is not the time.


next person to suggest we need a WR has to personally pay my restaurant tax increase to pay for the stadium.

Posted by: charlottean | Mar 1, 2013 1:47:21 PM

Good move to keep Olsen and hopefully Dwan Edwards will be re-signed soon.

I agree with many of the other commenters - Nakamura's "restructuring" should be to "former Panther" status.

Posted by: CBC | Mar 1, 2013 1:55:36 PM

armanti packed his bags to play in canada yet ?

Posted by: big gulps | Mar 1, 2013 2:03:03 PM

i will say this....nakamura is a solid BACKUP safety and special teams player. he just isn't a starter. or at least wasn't last year. then again, it was his first year playing regularly so there is a learning curve that need be given. i have zero faith in him as a starter, but i also had zero faith in kemba walker based on how bad he was last year. guys get better with experience. failures can be motivating.

better to hope that he took a pay cut and got better than to hope he got cut and starts ballin' for someone else. optimism is awesome.


NO WR'S!

Posted by: charlottean | Mar 1, 2013 2:05:01 PM

Why is Haruki "Toast" Nakamura still on the team? the secondery got better when he got hurt.

Posted by: Quentin Thomas | Mar 1, 2013 2:09:02 PM

I will never forgive Nakamura for that Matt Ryan pass in Atlanta. The replay of it still runs through my head on a weekly basis.

Posted by: Smitty | Mar 1, 2013 3:09:42 PM

they resigned nakamura but i better not see him in the def backfield, although i didnt see him do much on st either.im scratching my head on that move too.

Posted by: ray | Mar 1, 2013 3:38:31 PM

wideout is our biggest need. since the 2005 game vs seattle every opponents game plan vs the panthers is to contain old man smitty and the running game. it was true last year .just watch the games we struggled in offensively.we need a legit # 2 to stretch the field and be a viable option if teams double smith.i like lafell and olsen but they are not game breakers and nobody else stepped up last year.

Posted by: ray | Mar 1, 2013 3:45:20 PM

Good moves. Gamble need to either be restructured something serious or cut. And Jon Beason needs to restructure. and in the draft we need Cordarrele Patterson. then a DT since its a deep draft at that position and a safety to compete across from Godfrey.

Posted by: JesseJr | Mar 1, 2013 5:26:22 PM

When do i get paid G-man? Hollar!!

Posted by: Cam | Mar 1, 2013 8:20:11 PM

I am getting prepared for the inevitable...to be an Ex-Panther. I want to thank all the Panther fans for their support, as I tried to become a NFL player.
Currently, my agent is looking at offers in the Canadian Football League, along with the Arena Football, as I gots to get me some more playin time. Thanks y'all, and I'm out

Armanti

Posted by: Armanti E | Mar 2, 2013 2:56:09 PM

I want to thank the Panther fans for their support over the past three years. I have been told through my agent that I will be a cap casualty soon, so I will no longer be a Carolina Panther.
My agent is looking to fit my skill set for the Canadian Football League, as well as the Arena Football League. I may be able to play Quarterback, Receiver and show my versatility with different competition. It is clear I am not going to get my shot at the NFL, as Appalachian State did not really prepare me for life at this high of level.

I wish the Carolina Panthers all the luck in the future...

Armanti

Posted by: Armanti E | Mar 3, 2013 2:25:43 PM

They should free up space by cutting Khalil and Hangartner and Clausen and then restructure Kukely's deal.

Posted by: Len Jackson | Mar 8, 2013 11:13:10 PM

The comments to this entry are closed.

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