Smith gets the full $3 million if he’s cut by the Panthers

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On Monday, we explained that the Panthers will owe receiver Steve Smith up to $3 million if they cut him.  We were wrong.

They’ll owe him exactly $3 million.

The contract omits offset language.  This means that he can join another team, collect full compensation from that team, and keep the full $3 million in fully-guaranteed salary he’s due to pocket from the Panthers.

We revisited our information after Joe Person of the Charlotte Observer mentioned to our friends at WFNZ in Charlotte Tuesday morning that the deal doesn’t include offset language.  He’s right; we missed it.  “No offset language.”

While it won’t make it any harder (or easier) to trade Smith, it highlights the conundrum the Panthers now face:  (1) keep Smith and pay him $7 million; (2) cut Smith and pay him $3 million; or (3) trade Smith and pay him nothing.

Maybe the trade should be Smith and a low-round pick — from the Panthers — to get another team to simply take that contract off Carolina’s hands.

Barring that, Smith will be able to apply a twist to his 2013 catch phrase:  “Pay up, son.  Pay up.”

8 responses to “Smith gets the full $3 million if he’s cut by the Panthers

  1. Maybe he should just donate is salary to Gettleman’s sizable Krispy Kreme Fund and walk away.

    Whatever he does, you can bet, we will hear about what ACTUALLY happened to Gross and the other players affected by Gettleman’s approach. That silence you hear is coach Rivera wondering if he’s being sabotaged.

  2. Pretty much have to make #3 happen at this point with the way they have handled things with him. Anything less than getting some salvage value back isn’t going to go over well.

  3. Ginn and LaFell are reliable when Steve Smith is matched against the opponent’s #1 cornerback.

    Put Ginn or LaFell against the opponent’s best corner… and… cry about Cam Newton.

  4. If Raiders GM had any sense at all he’d go after Smith.
    Veteran receiver, good locker room influence for the youngsters. Problem is McKenzie lacks the ability to make Personnel decisions.

  5. This move makes zero sense. Maybe if there was talent behind him.

    You can say “If Jerry Rice was cut, Steve Smith can be cut”. Well 49ers had TO to take his place. Steve Young to replace Joe Montana. Panthers have Brent0n Bersin, Tavarres King, Marvin McNutt, Kealoha Pilares, R.J. Webb, and Toney Clemons .

    I’m not sure if there is currently a WR with a contract on the Panthers that had a reception last year with the Panthers outside of Steve Smith.

    There maybe college teams with a better receiving core than the Panthers.

  6. What makes all of this even stupider than it looks is Smith’s life off the field. He insisted on his contract being the length it is so his oldest son could spend all 4 years in the same high school. And now he has another son on the way. He is as big a family man as anyone you know. I’m sure if Gettleman explained the cap situation thoroughly, Smith would gladly re-do his deal. And contrary to what everyone outside the Carolinas seems to think, Smith is not anywhere ear the hothead he was from 2001-08. Yes, he still plays angry and is at his best when he is angry, but he doesn’t punch out teammates anymore and doesn’t get as many personal fouls as he used to. He plays with the media (“Ice up” comment) as much as he yells at them. He can be a jerk at times, but he used to be a jerk all the time. He can still be useful, and he has no issue with competition for the #1 spot.

    Wise up, DG. Find a way to repair the relationship and keep Smith in Panther black & blue.

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