The firing of head coach Matt Rhule after starting the 2022 season with a 1-4 record prompted speculation that the Panthers would go into fire sale mode where a majority of players could be available before the Tuesday, Nov. 1 trading deadline. Running back Christian McCaffrey is drawing interest and the Panthers are listening to offers.
The asking price for McCaffrey doesn’t suggest a fire sale. NFL Media’s Peter Schrager said during Fox’s pregame show on Sunday that the Panthers are looking for multiple first round picks to part with McCaffrey. According to ESPN’s Adam Schefter, Carolina has rejected offers from two teams.
McCaffrey re-set the running back market after joining Roger Craig and Marshall Faulk as the only NFL players to ever have at least 1,000 rushing yards and 1,000 or more receiving yards during the same season (2019). He signed a four-year extension averaging $16,015,853 per year with $39,162,500 of guarantees the following April. McCaffrey has a running back best $30,062,500 fully guaranteed at signing.
McCaffrey is making his $1.035 million league minimum during this season after converting $7.365 million of his $8.4 million base salary into signing bonus in March to free up $5,523,750 of salary cap space. The acquiring team would need enough cap room to absorb the remainder of McCaffrey’s current salary. If traded at the Nov. 1 deadline (after Week 8’s games), the acquiring team would be responsible for 10/18ths of McCaffrey’s 2022 base salary, which is $575,000, and any other applicable salary components in his contract.
McCaffrey is under contract for the next three years through 2025 for $36.2 million. He is scheduled to make $12 million each in 2023 and 2024 consisting of an $11.8 million base salary and a $200,000 workout bonus. In 2025, McCaffrey makes $12.2 million, which is composed of a $12 million base salary and a $200,000 workout bonus. The only security left in McCaffrey’s contract is $1 million of the 2023 base salary, which is guaranteed for injury.
The Panthers would have $8,010,750 and $18,352,250 of dead money, a salary cap charge for a player no longer on a team’s roster, for McCaffrey in 2022 and 2023 if he is dealt at the deadline. Carolina’s 2023 cap savings with a McCaffrey trade would be $1,198,500 since his current 2023 cap number is $19,950,750. His $19,950,750 and $15,450,750 cap numbers in 2024 and 2025 would be wiped off…
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