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Carolina Panthers release wide receiver Torrey Smith, per report

The Panthers claimed two wide receivers off waivers today and had to make a corresponding move, so they parted ways with a veteran receiver with no dead money counted against the salary cap.

The Carolina Panthers claimed two wide receivers off waivers today — Brandon Zylstra and Ray-Ray McCloud — and have to make corresponding moves before 4 p.m. ET to get their roster to the league required 53 players. According to a report by Adam Schefter, they have made their first move by releasing veteran wide receiver Torrey Smith.

This makes sense from a business standpoint because Smith’s salary is not guaranteed and carries no dead money against the salary cap. Smith had already agreed to take a pay cut from $5 million to $3 million for the 2019 season, but unfortunately for him the numbers just didn’t work out for him to remain on the roster in 2019.

I’m sure there’s a team out there who can use the services of a veteran receiver with some tread still on the tires, so I’d imagine that Smith won’t be out of work for long. Best of luck to him in his future endeavors.

The Panthers still have two more moves to make before the 4 p.m. ET deadline. Stay tuned for more roster updates as they happen.