It’s a new deal, yes it is.
As announced on Thursday afternoon, the Carolina Panthers have restructured the contract of safety Xavier Woods.
According to Over the Cap, a simple restructure wouldn’t exactly line the Panthers’ pockets. But, hey, $1.64 million is better than nothing, right?
Woods will be entering the second campaign of a three-year pact he signed last spring. That agreement, which was made official on March 16, 2022, is set to pay out $15 million in total.
In his first season with Carolina, the 5-foot-11, 204-pound defensive back recorded 86 combined tackles—the second-highest single-season total of his career—along with six passes defensed, two fumble recoveries and a quarterback hit over 15 starts.
This latest adjustment is now the third restructure of the offseason for the Panthers. They’ve previously reworked the contracts of starting right guard Austin Corbett and starting right tackle Taylor Moton.
Between Corbett, Moton and Woods, the team has potentially freed up approximately $18.7 million of salary cap space.
