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Cap space season continues: Panthers free up cap by restructuring S Xavier Woods

The Panthers continue to clear cap space as they head into free agency

NFL: Carolina Panthers at New Orleans Saints Stephen Lew-USA TODAY Sports

After restructuring offensive tackle Taylor Moton and offensive guard Austin Corbett earlier this week, the next move to free up cap space came along Thursday afternoon.

Per The Athletic’s Joe Person, the move should clear about 1.6 million in cap space. The Panthers were able to get below the cap ceiling with the moves on Corbett and Moton, so this only adds to their flexibility, and guarantees three veteran players will be here in 2023.

Xavier Woods joined the Panthers on a 3 year deal in the 2022 offseason, and became the starting safety opposite Jeremy Chinn, where he played in 15 games as the Panthers secondary dealt with several injuries between Chinn and Juston Burris, to the point that Myles Hartsfield, Sean Chandler, and Sam Franklin all played meaningful snaps at safety in 2022. Woods will be one of the starting safeties in 2023, though with Chinn allegedly moving into a hybrid role, the team will likely need to find another starter caliber player in free agency or the Draft this year.

Sound off below, Panthers fans,