The Carolina Panthers have already rid themselves of a few onerous contracts for the 2019 season. Several long-time veterans have either retired or will be moving on to another team. There’s still a lot of fat to trim from the team’s salary cap situation, though.
With that in mind, here’s the four most problematic contracts on the books right now and what the team can do about them.
All salary information comes via Over the Cap.
OT Matt Kalil – 2019 cap number: $12.15 million
The problem: Dave Gettleman should have never signed the injury-prone and inconsistent Matt Kalil to this monstrosity of a deal to begin with. Kalil has done nothing to instill confidence in either his health or his level of play since the signing. In a fantasy world, Kalil would bounce back, play 16 all games and have a Pro Bowl year for the Panthers. Since that’s not going to happen, expectations need to be kept very low.
The solution: In this case, there are only bad options. Even three seasons later, Kalil’s contract makes cutting him unrealistic. If they wait until after June 1 to do it, they would save $7.25 million in cap room. However, they would also take on $14.7 million in dead money. No team is going to trade for Kalil, so the only logical thing to do is give him a shot to win the starting left tackle position. If he loses that competition, perhaps he can serve as swing tackle, backing up Taylor Moton and whoever takes his place on the blindside.
DT Dontari Poe – 2019 cap number: $9.33 million
The problem: The Panthers had to think they’d be getting more from Poe when they first signed him to a three-year deal worth $28 million last March. He was coming off a renaissance season with the Falcons, posting 2.5 sacks and 10 quarterback hits. Poe has not done much in Charlotte, though. Like most of the team’s defensive linemen, he fell short of expectations in 2018. Poe managed just one sack and four tackles for a loss and paying over $9 million for that kind of production is obviously not ideal.
The solution: This isn’t on Poe as much as Ron Rivera’s staff. Dan Quinn is a well-known defensive line guru and may have had a strong influence in Poe’s resurgence in Atlanta. However, the Chiefs also got some excellent years from Poe early in his career. Perhaps working more closely with Eric Washington after his demotion will help. Whatever the case, the Panthers need to find a way to get Poe going again.
TE Greg Olsen – 2019 cap number: $6.62 million
The problem: When the Panthers signed their venerable tight end Greg Olsen to a two-year extension last offseason, they probably did not anticipate that he would miss half the season with another foot injury. Perhaps they should have. Olsen is now going on 34 years old and has not been consistent or healthy since 2017. It would be great if Olsen can play a full season again and recapture his old mojo with Cam Newton, but if he can’t then his contract is going to feel pretty heavy.
The solution: Considering they just signed an extension less than a year ago, Olsen’s representation would certainly (and rightfully) balk at the idea of renegotiating his deal now. The best thing for Carolina to do is take advantage of a strong 2019 draft class at tight end and add another prospect for depth in case Olsen gets injured again or decides to retire and join the broadcast booth full-time.
WR Torrey Smith – 2019 cap number: $5 million
The problem: While getting rid of Daryl Worley was a necessary evil, trading for Torrey Smith last year did not make a whole lot of sense for the Panthers. The wide receiver room was clearly overcrowded in 2018 and it wasn’t until late in the year that the right players started getting their targets. Smith was just starting to get into a rhythm when he suffered a knee injury. He wasn’t the same afterwards and finished the season with just 17 catches, 190 yards and two touchdowns.
The solution: Releasing Smith would save Carolina $5 million in cap room for the year and comes with no dead money. If Smith is willing to play for about half that much, he’d be a welcome carry-over as a deep threat. However, it makes more sense to move on and draft another receiver on Day 2 or 3 to solidify a young, cheap corps along with D.J. Moore and Curtis Samuel, with Jarius Wright serving as the lone elder statesman of the group.
