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Update on how the Panthers have spent their money in free agency

CHARLOTTE, N.C. -- The NFL is a full week into free agency, so let’s see how the Carolina Panthers have spent their money.

Counting the 14 players who were signed, re-signed or had their contracts extended, the Panthers have spent $20,044,166 of their 2015 salary cap.

To put that in perspective, they spent $13.1 million in 2014 cap space by franchising defensive end Greg Hardy. The 2013 Pro Bowl selection played only one game because of his domestic violence case.

The Panthers have spent more than $20 million in signing bonuses, with $12 million of that going to Pro Bowl tight end Greg Olsen when he signed a three-year extension.

But in extending Olsen they dropped his cap hit from $7.8 million to $6.3 million in 2015.

Eight of the contracts were for two or three years, so management won’t have to worry about those deals until at least 2017. Only four of the players came from other teams, so that shows the importance the Panthers placed on continuity.

Here is a complete look at the breakdown:

  • TE Greg Olsen: Extended, 3 years at $22.5 million with a $12 million signing bonus.

2015 cap hit: $6,300,000

  • OT Michael Oher: Signed a 2-year deal at $7 million with a $2.5 million signing bonus.

2015 cap hit: $2,421,875

  • WR Ted Ginn Jr.: Signed a 2-year deal at $4.2 million with a $1.7 million signing bonus.

2015 cap hit: $1,850,000

  • DT Dwan Edwards: Re-signed, 2-year deal at $4 million with a $1 million signing bonus.

2015 cap hit: $1,750,000

  • TE Ed Dickson:Re-signed, 3-year deal at $6.8 million with a $2 million signing bonus.

2015 cap hit: $1,516,666

  • S Kurt Coleman: Signed a 2-year deal at $2.8 million with $600,000 signing bonus.

2015 cap hit: $1,290,625.

  • CB Teddy Williams: Signed a 2-year deal at $2.3 million with a $220,000.

2015 cap hit: $680,000

  • DT Colin Cole: Re-signed, 1-year deal at $1,050,000 with an $80,000 signing bonus

2015 cap hit: $665,000

  • QB Joe Webb: Re-signed, 1-year deal at $825,000 with an $80,000 signing bonus.

2015 cap hit: $665,000

  • OL Chris Scott: Re-signed ,1-year deal at $825,000 with an $80,000 signing bonus.

2015 cap hit: $665,000

  • RB Fozzy Whittaker: Re-signed , 2-year deal at $1,360,000 with a $50,000 signing bonus.

2015 cap hit: $635,000

  • LB Ben Jacobs: Re-signed, 1-year deal at $585,000.

2015 Dhit: $585,000

2015 cap hit: $510,000

2015 cap hit: $510,000