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Carolina Panthers wide receiver Torrey Smith agrees to $2 million pay cut

The Panthers have created $2 million in cap space by re-working Torrey Smith’s contract.

The Carolina Panthers have cut Torrey Smith’s salary by $2 million for the 2019 season according to a report by Field Yates.

This $2 million — when added to the $7.25 million the Panthers will receive on June 2 from releasing Matt Kalil — will give them some much-needed cap flexibility in case they want to sign a free agent or two.

Hey, what a coincidence — free agent defensive tackle Gerald McCoy is in town tonight and tomorrow for a visit with the Panthers. Could the Panthers be creating more cap space with this reduction of Smith’s salary in order to have the funds available to make a serious run at obtaining McCoy’s services? It sure seems that way, doesn’t it?

Even if the Panthers don’t sign McCoy, having an extra $2 million in cap space can be useful in other pursuits if they choose to use it. There are still a few unsigned safeties out there on the market (Tre Boston, anyone?) who could also come in and improve the team, so there’s a good chance we see the Panthers use this money on someone. I have a feeling they didn’t make this move for no reason, so stay tuned as there will probably be some free agent news to share on the horizon.