Carolina Panthers running back Deangelo Williams has restructured his contract. This move saves the Panthers 3.2 million in cap space this and next season. There has been much speculation so far this off season that Williams would be released. This move settles that question. The Deangelo Williams / Jonathan Stewart Tandem will remain in tact for at least another season.
Williams was entering the third season of a five-year, $43 million contract and was scheduled to earn $5 million in cash with an $8.2 million salary cap number for 2013. Williams will still receive $5 million in cash this year, but the deal has been restructured in a way that reduces his cap number to $5 million, a cap savings of $3.2 million that leaves the team $8.46 million under their adjusted 2013 salary cap number of $126.232 million.
Williams was scheduled to earn $4.75 million in non-guaranteed base salary with a $250,000 workout bonus this season. Under the renegotiated contract, Williams' base salary was lowered to $850,000 and his workout bonus reduced to $150,000. The remaining $4 million was converted to a signing bonus, which will be prorated against the Panthers' cap at $800,000 per season through 2017.
The real cash savings for the Panthers occurs in 2014 and 2015. Full Article
Deangelo Williams Carolina Panthers runningback