<
>

New receivers big cap savings for Carolina

Maybe this will help you better understand why Carolina Panthers general manager Dave Gettleman was willing to part with his top wide receivers from 2013.

There is almost a $3 million difference between the 2014 salary-cap total for the three receivers the Panthers signed compared to the cap total other teams are counting for the three Carolina lost.

For a team looking to get out of salary-cap jail, that is a plus.

We'll start with the most recent signee, former Philadelphia receiver Jason Avant. The one-year deal the Panthers gave him on Monday doesn't qualify as a minimum-salary benefit contract because of a $150,000 signing bonus.

Avant also is eligible for a $45,000 workout bonus, which would bring the total of his deal and 2014 cap number to $1,050,000.

That brings the 2014 cap total of the three receivers the Panthers signed -- Jerricho Cotchery ($1.7 million), Tiquan Underwood ($925,000) and Avant -- to $3,675,000.

That is $2,741,666 less than the combined cap value of Steve Smith ($2,166,666, Baltimore) , Brandon LaFell ($2 milion, New England) and Ted Ginn Jr. ($2.25 million, Arizona), Carolina's top three receivers in 2013.

Smith alone was going to count $7 million against the cap this season before the Panthers released him. Carolina still had to pay Smith $5 million in salary and deferred bonuses, but long-term the moves have been a big savings.

Now it comes down to whether the new receivers can replace those lost in production.