Greg Olsen restructures contract with Panthers, according to report

Bob Donnan-USA TODAY Sports

The Panters are getting some cap room thanks to Greg Olsen.

Greg Olsen will restructure his contract to free up some cap space for the Carolina Panthers, according to Pro Football Talk. This isn't new for Olsen, who restructured his deal to save Carolina some money against the cap last season too.

Olsen was due to earn $3.75 million in base salary this season, but will now only get $750,000. The remaining $3 million will now be paid in an option bonus, which will be due between the first and 10th day of the league year.

The move will give the Panthers $2.4 million in cap room this season, which is big for a team currently over the cap. Ryan Kalil and Jonathan Stewart also restructured their deals to help the team free up some cap room, but Carolina is still over the cap by anywhere from $2 million to $6 million, depending on whose estimation you believe. They have until the start of the league year on March 12 to get under the cap.

If recent reports prove true, the Panthers will release Chris Gamble and Ron Edwards to get below the cap. That would free up $10.4 million in cap room and get them under with a little room to spare.

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