Carolina Panthers restructure Charles Johnson’s contract to gain cap room | CharlotteObserver.com
It’s a standard restructuring that drops Johnson’s base salary to $950,000 and converts the remaining $7.8 million to a signing bonus that is prorated over the final three years of the contract, according to a league source. The restructuring creates $5.2 million in cap space for Carolina. Johnson’s cap figure goes from a team-high $16.4 million to $11.2 million.
That puts the Panthers at least $10M under the cap. Now lets see what they do with it.