4:38PM Friday
March 1, 2013

Panthers tight end Greg Olsen is the latest player to restructure his contract to help his team free up some cap space.

A league source tells PFT that Olsen, who was initially owed a $3.75 million base salary, will now get a $3 million option bonus and a $750,000 base salary. The option bonus will be due between the first and 10th day of the league year, which begins March 12.

The move will save the Panthers $2.4 million on this year's salary cap.

Olsen, who also restructured his contract to save the Panthers some cap room last year, is coming off a 2012 season in which he started all 16 games and had a career-high 69 catches for a career-high 843 receiving yards.