Carolina Panthers Restructure Greg Olson’s Contract

It was a busy day for the Carolina Panther’s front office. Today the restructured their fourth contract in addition to making a few roster moves. They restructured tight end Greg Olson’s contract.

December 02, 2012; Kansas City, MO, USA; Carolina Panthers tight end Greg Olsen (88) can

Olsen joined the Panthers in 2011 after spending the first few seasons of his career with the Chicago Bears. Chicago drafted him with the thirty-first pick in the 2007 NFL draft.

He restructured his contract to $2.4 million against the cap. His new deal leaves the Panthers at $6.6 million still over the cap. The 2013 NFL salary cap was set at $123 million dollars just the other day.

Olsen joins center Ryan Kalil, running back Jonathan Stewart and free safety Haruki Nakamura as the other Panthers to get a new contract.

He was suppose to make $3.75 million in base salary this year. Now, the total compensation for Olsen won’t change, but the shift of the base to bonus money is more cap-friendly for the team.

Olsen is under contract with Carolina through the 2015 NFL season and is coming off the best season of any tight end in the teams short history.

He has a career total of 308 receptions for 3,364 yards with 30 touchdowns.