The Carolina Panthers opened up a significant chunk of cap space on Tuesday following the release of running back Miles Sanders.
The team announced Sanders’ release just one day before the start of free agency on March 12.
Releasing Sanders, 27, will save the Panthers roughly $5.23 million in cap space, according to Over the Cap. The industry website notes that Sanders will leave behind $2.95 million in dead money.
Sanders will get an early start with free agency as he will be eligible to sign anywhere once the release becomes official with the league. He had been due a $1 million roster bonus on March 15, but his release will void that pay out.
The Panthers signed Sanders, a one-time Pro Bowl selection with the Philadelphia Eagles, to a four-year, $25.4 million deal in 2023 following the hiring of former head coach Frank Reich.
Sanders was brought in to be a central focus of Reich’s offense as a starting running back. Unfortunately for Sanders, Reich lasted just 11 games in Carolina, and Sanders was eventually succeeded in the starting lineup by Chuba Hubbard, who retained the top job under Reich’s replacement, Dave Canales, in 2024.
Sanders encountered more adversity in his second season with the Panthers. While Hubbard went on to have a career year and sign a long-term extension, Sanders endured injuries and was limited to just 11 games. He did, however, have an excellent performance in the season-finale win against the Atlanta Falcons, producing 66 rushing yards, 50 receiving yards and two total touchdowns, including the walk-off rushing score in overtime.
Through two seasons, Sanders produced 637 rushing yards and three rushing touchdowns for the Panthers. He also had 51 catches for 302 receiving yards and a receiving touchdown.
Sanders’ release, at least on paper, signals a big transition behind Hubbard at running back. Jonathon Brooks, the only other returning running back under contract, is coming off a second ACL surgery in as many years. Mike Boone is set to become an unrestricted free agent, while Raheem Blackshear is a pending restricted free agent, though, he’s not expected to be tendered..
The Panthers could replace Sanders, Boone and Blackshear with three new players via the draft and free agency. With Hubbard leading the charge, and Sanders’ release creating notable salary cap relief, the Panthers will have the flexibility to bring in new running back talent at cost-effective prices.
The Charlotte Observer
Mike Kaye covers the Carolina Panthers for The Charlotte Observer. Kaye previously covered the entire NFL for Pro Football Network, the Philadelphia Eagles for NJ Advance Media and the Jacksonville Jaguars for First Coast News. He is a graduate of the University of North Florida.