The Panthers active free agency period continued on Thursday as they reworked two of the more... um... maligned deals from 2022. First, they got Ian Thomas to take a pay cut.
Panthers TE Ian Thomas has taken a pay cut, per league source and as @TomPelissero said.— Joe Person (@josephperson) March 16, 2023
A year after getting 3-yr, $16.95M contract, Thomas agrees to $3M and $3.65M salaries in ‘23 and ‘24.
Move creates extra $2.875M in cap space this year.
Ian Thomas signed a 3 year extension in 2022 that was expected to garner him 16.95 million in total, however by reducing his salary they found a way to keep him at what some would say is closer to his value. Thomas will make a little less in 2023 now, however per Spotrac his cap hit will jump to 6.1 million in 2024. They could save 3 million on the cap next year by cutting him, though we’ll see if he can take a step forward as a receiver this year. Thomas showed to be most valuable as a perimeter blocker in 2022.
Second on the list, the Panthers restructured Donte Jackson’s contract to avoid paying him a 4 million dollar roster bonus in 2023.
#Panthers announce they’ve restructured CB Donte Jackson’s contract. He was due a $4 million roster bonus tomorrow.— Mike Kaye (@mike_e_kaye) March 16, 2023
If it was a traditional restructure, it would save around $3.9 million. He’s coming off an Achilles tear but is under 30 and the team clearly wanted to keep him.
The exact details are a little unclear as of the time of this writing, but it appears the Panthers have taken some money off the table for Jackson as he recovers from an Achilles tear in 2022. Jackson is still slated to be the number two cornerback in 2023, but he’ll need to prove he’s back at 100%. We’ll see what the details are in the coming days.
Sound off in the comments, Panthers fans!