According to a tweet by Steve Reed, Jordan Gross has agreed to take a reduction in salary that will give the Panthers more cap flexibility in both 2013 and 2014.
There aren't a lot of details at this time, but Reed provided the following information:
Jordan Gross has agreed to a reduced base salary. He goes from $8.7M in 2013 to $1M. And he goes from $6.7M to $1M in 2014.— Steve Reed (@SteveReedAP) March 27, 2013
Without knowing all the details it's tough to know exactly how much this will help the Panthers in the future, but we do know that it helps them out quite a bit in the present. If Reed's information is correct, then according to numbers taken from Spotrac this restructure reduces his cap figure from $11.7M to approximately $4M for 2013 and gives GM Dave Gettleman wiggle room in case the Panthers find another free agent on the market that they want to sign.
In 2014, Gross' cap figure reduces from $9.7M to $4.7M - again giving the Panthers more flexibility to sign free agents (or possibly offer Greg Hardy a market-value contract).
As I said previously, there's no information on whether or not this is a restructure with added years or if it's just a straight pay cut. I will be shocked if Gross did this with absolutely nothing in it for him, as players don't usually just leave that much money on the table with nothing in return. Once we know more about the details of this agreement we will pass that knowledge along to you.
As always, stay tuned to CSR for any updates to this breaking story.