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Updated: Panthers Salary Cap Projections

The Panthers don’t have as much... scratch... as we originally projected.

NFL: Carolina Panthers at Tampa Bay Buccaneers Kim Klement-USA TODAY Sports

Panthers general manager Dave Gettleman has been on a spending spree, something many of us have asked for and never received. It looks like we have filled most of our major holes, and we will enter the draft able to truly focus on the best players available. That said, the moves have taken more of a toll on our bottom line than our site originally projected. Over the Cap has updated more of their numbers, and we have done some more additional calculation. Here is what we have...

From Over the Cap

Total Cap Liabilities: $165,440,140 (Top 51: $157,235,140)

Offense: $80,494,784

Defense: $52,335,089

Special Teams: $8,205,000

Team Salary Cap: $181,170,644

Team Cap Space: $23,935,504 (KEEP READING FOR THE REAL FIGURE)

The cap number OTC is showing includes all free agents signed prior to free agency beginning on Thursday, except Wes Horton and Brenton Bersin, for some strange reason. It also includes Captain Munnerlyn and Mike Adams. For the purposes of math being hard, we are going to say that the team has $24,000,000 in cap space before the following subtractions.

Deals not included in that figure:

  • at least $3.5 million for Julius Peppers one year deal (20.5m remaining)
  • $2.2 million for WR Charles Johnson in a one year deal (18.3m remaining)
  • Russel Shepard is signed for 3 years, 10.5m dollars, 2m signing bonus, 2.5m guaranteed. He will make $4,000,000 this season. (14.3m remaining)
  • Wes Horton is signed for 2 years, $2.7m, $425k guaranteed. Again, exact breakdown unknown, so split the bonus to $213k and the salary to probably about $1m this year. Let’s round down to a $1.2m cap hit this year. (13.2m remaining)
  • Chris Scott signed a 1 year deal as I write this. Terms are unknown. For me, it is likely he will make the team, and also likely he signed an identical deal to his last 1 year contract. I am penciling him in at 1-year, $840k. (12.4m remaining)
  • Brenton Bersin is on a one year deal of unknown amount. It is likely not guaranteed and hes unlikely to be rostered. For now, we are going to leave him out of the calculations.
  • Now for the big one... Matt Kalil. No one has the breakdown of his contract right now, but we do know it is a 5 year, $55m contract, with $25m guaranteed. His guaranteed is likely evenly distributed, so $5m per season. His salary portion then equals $30m divided by 5. $6m per season. Salaries usually increase over the life of a contract, so we will make this assumption than he is going to make $4m in salary this year, and $8m in his final year. So his assumed cap hit this year is $9,000,000.

When you subtract that estimated $9,000,000 you get a grand total of...

$3,400,000 remaining.

It should be stated that there are some cuts or trades that still might be forthcoming that could save some money. Ed Dickson and Tre Boston might want to cut their phones off this afternoon. Also, it is likely that the draft will shake some things up, and we are likely to see contract restructures begin to take shape. Heck, maybe Kawann Short will sign a contract. Who knows?