Keyshawn Johnson released from Carolina.

[SmootSmack]

Originally Posted by dmek25

i think that the reason this is a dumb move is because if they would have done this alittle earlier, they would have saved themselves a 3 million dollar roster bonus

Some interesting stuff here:

Inside the Panthers

Cap implications of cutting Johnson

Let’s do a little more separating the facts from fiction on the finances of the Keyshawn Johnson situation.

Here’s the deal: He was scheduled to count $3.25 million against the salary cap this year. Instead, the Panthers will have to absorb $3.75 million in outstanding pro-ration of his original bonus, but they’ll actually save cap room with this move. As part of a new rule this year, Johnson will be designated as a post-June 1 release. That will allow the Panthers to spread his cap hit over two years.

He’ll count $1.25 million this year and $2.5 million against the 2008 cap.

Posted by pyasinskas on May 1, 2007 at 02:44 PM | Permalink | Comments (8)
No $3 million bonus for Johnson

Let's clear up a little matter here before it gets too wide-spread: The Panthers DID NOT pay Keyshawn Johnson a $3 million roster bonus on April 1, as has been reported elsewhere and has fans scratching their heads.

The Panthers did pay Johnson $1 million April 1. But that was deferred money from the signing bonus he agreed to when he initially signed with the Panthers. Johnson also was due a $1 million reporting bonus at the start of training camp. Obviously, he won't get that money and it won't count against the salary cap.

Posted by pyasinskas on May 1, 2007 at 01:56 PM | Permalink | Comments (15)
Why Panthers canned Keyshawn

Here's why Keyshawn Johnson is gone:

Although the receiver, who was followed by controversy in his previous stops, seemed to be a model citizen in his one season with the Panthers, there were some-behind the scenes issues.

Some very important people in the organization weren't happy when Johnson failed to stand up and take blame away from quarterback Jake Delhomme after some critical passes intended for Johnson were intercepted. At least one very important person in the organization urged Johnson to do that and he didn't.

Johnson also didn't endear himself to some key people by questioning some coaching moves. The Panthers are on the hook for $3.75 million in salary cap space because of remaining signing bonus prorations. They may designate Johnson as a June 1 cut and spread the cap hit over two years.

The decision to part ways with Johnson actually was made at least several weeks ago. When a rumor was circulating about this move last week, Panthers general manager Marty Hurney told The Observer that information was "not accurate.''

Apparently, the Panthers wanted to make sure their bases were covered before officially making the move, and the clincher came when they drafted USC's Dwayne Jarrett in the second round Saturday.