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February 24, 2014

New deal for Davis creates $3.25M in cap space

The Panthers created more than $3 million in salary cap space by restructuring veteran linebacker Thomas Davis' contract this month.

As reported last week, the Panthers picked up the two option years on Davis' deal, but they also added three voidable years on the contract, which now runs through 2018. That allows them to stretch the bonus money over the length of the contract for salary cap purposes.

Under the terms of the restructured contract, Davis received a $5 million bonus for signing the $16.5 million contract -- a figure that includes $1 million salaries for each of the three voidable seasons from 2016-2018.

Davis was due to make $2.75 million in base salary this year, but now will make the veteran's minimum of $950,000. Davis' cap number dips from $6.82 million to $3.57 million for a savings of $3.25 million.

Davis' base jumps to $7.5 million in 2015, with a cap figure of $10 million.

This is the fourth time in three years the Panthers have renegotiated with Davis as a result of his injury history and the team's cap positioning.

According to league sources, the Panthers also are looking to restructure the deals of other veteran players, with defensive end Charles Johnson and center Ryan Kalil the most likely candidates.

Davis, 30, is coming off one of his best seasons, just two years removed from the third ACL surgery on his right knee. Davis finished with 123 tackles -- second on the team behind middle linebacker Luke Kuechly -- and added four sacks.

--Joseph Person

Posted by Observer Sports on February 24, 2014 at 02:35 PM | Permalink

Comments

Seems like Davis really wants to be here and he is all about the team

Posted by: Jon | Feb 24, 2014 2:53:58 PM

Love my team new GM :)

Posted by: panthers89 | Feb 24, 2014 2:55:02 PM

"Davis' base salary this year decreases from $2.75 million to the veteran's minimum of $950,000. Davis' cap number dips from $6.82 million to $3.57 million for a savings of $3.25 million.

Davis' base jumps to $7.5 million in 2014, with a cap figure of $10 million."

It is 2014. Do you mean his cap figure jumps to $10 mill next year in 2015?

Posted by: Gabe | Feb 24, 2014 3:09:26 PM

I was really confused by that as well. Who is editing these articles?

Posted by: Derrick | Feb 24, 2014 3:14:53 PM

Davis is as real a person as he is a player. Dude is LOYAL, LOVING, and HUMBLE. I met him last year and was stunned how nice he is. Great TEAM player.

Posted by: Dustin | Feb 24, 2014 3:18:17 PM

It's 2014 right now.

Posted by: Mike | Feb 24, 2014 3:21:15 PM

One of my favorite Panthers !!!!

Posted by: Section524 | Feb 24, 2014 3:24:24 PM

I want to restructure Julis's contract.

Posted by: Jerry Richardson | Feb 24, 2014 3:49:47 PM

it should have been Charles Johnson who contract was restructured first. this just makes it a sure thing Davis will be cut next yr bc no way they will keep him around if he counts for 10 mil hit to the cap

Posted by: tre'4boi | Feb 24, 2014 4:04:17 PM

This looks like a bad deal.

Posted by: Tabloyd | Feb 24, 2014 4:31:25 PM

He traded $1.8 million in salary for $5 million in bonus. I know we need to free up cap space this year, but this makes future years worse.

Posted by: Tabloyd | Feb 24, 2014 4:34:36 PM

Without a doubt have a restructure Johnson's deal. I love the guy, but we have to spread the wealth around to get this team in a better position going forward.

Posted by: Smitty | Feb 24, 2014 4:36:19 PM

Perhaps I am mistaken, but this restructure doesn't mean he will be taking a pay cut in any way. I love Davis but it's not like he's a hero for letting Gettleman do a little creative accounting with his contract.

Posted by: . | Feb 24, 2014 4:39:18 PM

Yea panthers saved in cap number but lost money overall. Yall cheering him on for taking a 3 million dollar bonus. Lol read before u comment

Posted by: Mike Win | Feb 24, 2014 4:54:01 PM

Doesn't this mean that if they release him next year, the cap hit would be $10.5MM? Since that is the same as his cap number if he is on the team, I wouldn't think a release the year after next year is inevitable. After two years, I think they would still take a cap hit of $7.8MM versus keeping him would put his cap number at $3.6M. Seems like a bargain if he can stay healthy.

Posted by: Chris | Feb 24, 2014 5:30:43 PM

I was really confused by that as well. Who is editing these articles?

Posted by: Derrick | Feb 24, 2014 3:14:53 PM

--> Mike Persinger.

Mike will delete my post before you see this though, censorship is at a high level on these blogs.

Posted by: Terry | Feb 24, 2014 5:42:07 PM

Those of you worried about the 10M cap hit should realize that part of being a team player means that if the Panthers ask,he could restructure again next year as well.

Posted by: deepenwide | Feb 24, 2014 5:47:31 PM

Those of you worried about the 10M cap hit should realize that part of being a team player means that if the Panthers ask,he could restructure again next year as well.

Posted by: deepenwide | Feb 24, 2014 5:47:31 PM

This is a good deal for both sides. Davis gets more garenteed money than he had. Considering his injury history that is good for him because even if he gets cut next year he will get all of the 5 mil bonus. Even if he gets another injury he gets all of that bonus money.

Good for the Panthers too since they have more money for Hardy. I think all these players understand the CAP more than we give them credit - getting all the numbers to fit is really a team effort and Davis understands that. So does Steve Smith????

Posted by: Dom | Feb 24, 2014 5:55:49 PM

That's my boy Gettleman just working the system, and he'll continue to do that next yr. Guys, don't whine about a $10 million cap hit next yr. Four restructures in 3 years means it'll be 5 restructures in 4 years come next offseason.

Posted by: JustinIsPantherCrazy | Feb 24, 2014 7:11:32 PM

Glad to see the guy get some immediate change in his pocket after his contributions last year. Hes a class act and this helps the team again. Thanks TD and Gettleman

Posted by: James Hines | Feb 24, 2014 10:19:46 PM

I really think hardy is hitting the road and we will use the first pick in the draft to replace him. And that is the smart thing to do. The money he wants will kill the team. The money we would pay him we can lock up all of our free agents and pick up a good WR'S in free agent and next year have more room to sign cam and luke. And truly hardy didn't step up until we got a alsome line and he hasn't got a sack on anyone impressive. Two sacks come with him uncovered. Two come on a Te. He couldn't done anything against the 49ers or seahawks. So is he worth 18 million a year? He is no peppers. I expect that he numbers will fall this year.

Posted by: jody | Feb 25, 2014 9:19:27 AM

Release the Kraken!!!

Posted by: The Kraken | Feb 25, 2014 11:50:19 AM

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