Panthers will save millions in cap space by restructuring Shaq Thompson’s contract

The Carolina Panthers cleared an additional $5 million in salary cap space after restructuring linebacker Shaq Thompson’s contract, a league source said Monday.

Thompson was the second Panthers’ player to have his contract restructured, and he may not be the last. The Panthers are still trying to clear additional cap space ahead of free agency. Last week, they cleared $11 million by restructuring left tackle Taylor Moton’s deal.

This was the second consecutive year, Thompson’s contract was restructured. He was scheduled to count $18.1 million against the salary cap, the second-highest on Carolina’s roster, behind quarterback Sam Darnold.

Thompson, 28, is signed through the 2023 season. He had 104 tackles, two interceptions and two sacks in 2021.

By restructuring their contracts, the Panthers are paying part of their salaries in bonus money up front. Their cap numbers for this season decrease, but increase in the latter years.

The Panthers were projected at $23.9 million in cap space for 2022, according to overthecap.com. The additional $5 million would put them at about $29 million.

Other likely candidates whose deals could be restructured are running back Christian McCaffrey and center Pat Elflein. McCaffrey’s cap number is $14.3 million, while Elflein’s is $6.7 million.

Robby Anderson, whose cap number is $16.8 million for 2022, would also be an ideal candidate, but his contract is not expected to be restructured.