Williams saves Panthers significant cap space in restructured deal

Panthers running back DeAngelo Williams has restructured his contract, according to ShutDown Corner, saving the Panthers $3.2 million against the salary cap this 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.

The deal also added two “dummy years” to the deal, that could also be voided if certain criteria is met.

The Panthers tacked on two “dummy” years in 2016 and 2017 for proration purposes, but both of those seasons will void if Williams is on the Panthers’ roster four days after Super Bowl L (Feb. 11, 2016).

In terms of salary cap savings, the Panthers are scheduled to save $3.2 million against their 2014 cap and $3.867 million on their 2015 cap. The Panthers will have to account for $2.267 million in “dead” money when the 2016 and 2017 seasons are voided.