The Panthers' Dead Cap Situation After Releasing Cam Newton Will Make Any NFL Fan Sick
By Scott Rogust
Remember when Carolina Panthers head coach Matt Rhule said that he couldn't wait to work with Cam Newton back in February? That turned out to be a flat-out lie, as the team effectively replaced Newton with former New Orleans Saints backup quarterback Teddy Bridgewater. Now, reports indicate that the team will release their 2011 first overall pick as soon as Tuesday.
The Panthers have let a plethora of talent leave this offseason, netting them a grand total of $34 million in dead money. Once Carolina moves on from Newton, the dead cap will increase by $1 million.
#Panthers have $34 million in dead cap money thus far. That will increase by a million when they trade or release Cam Newton. https://t.co/EjunbxkcoO
— Daniel Brown (@DanielBrown0811) March 22, 2020
Did anyone else throw up in their mouths after reading that?
How did the Panthers get into this dead cap hell? Well, that happened after Rhule and general manager Marty Hurney opted to release tight end Greg Olsen and safety Eric Reid, while also trading away offensive tackle Trai Turner to the Los Angeles Chargers. Those three transactions alone account for $18.3 million in dead money. Gross.
#Panthers losses:
— NFL Update (@MySportsUpdate) March 24, 2020
*Cam Newton cut
*Luke Kuechly retired
*Greg Olsen cut
*Eric Reid cut
*Trai Turner traded
*James Bradberry leaves in FA
*Mario Addison leaves in FA
*Gerald McCoy leaves in FA
*Bruce Irvin leaves in FA
*Greg Van Roten leaves in FA
*Dontari Poe option declined
This is a risk the Panthers were willing to take. Owner David Tepper moved heaven and Earth to pry Rhule away from the Baylor Bears and the New York Giants to secure him as his head coach. That's evidenced by Rhule's seven year, $60 million contract. That amount of money allows Rhule to mold the Panthers roster in his image, and so far, he's done just that...at the expense of dead cap.