Panthers cut Torrey Smith after waiver claims

CHARLOTTE, N.C. -- The Carolina Panthers on Sunday released veteran wide receiver Torrey Smith after claiming former Minnesota Vikings receiver Brandon Zylstra off waivers.

The Panthers traded for Smith, a two-time Super Bowl champion, in March 2018 to add veteran leadership to a young receiving corps. He came with a $5 million a year salary for 2018 and '19, then took a $2 million cut this offseason while rehabbing from a knee injury.

Smith reflected on the move on Twitter:

The Panthers will save $1.8 million in cap space by releasing Smith. Zylstra is set to count $480,000 against the 2018 cap. His contract runs through 2020.

The Panthers also claimed wide receiver Ray-Ray McCloud and safety Natrell Jamerson. They released undrafted rookie running back Elijah Holyfield and cornerback Kevon Seymour. Holyfield, the son of former heavyweight boxing champion Evander Holyfield, is a candidate to be re-signed to the practice squad.

With the addition of veteran Chris Hogan in free agency and with Smith being replaced as the No. 1 receiver by 2018 first-round pick DJ Moore, the 30-year-old Smith became expendable. Smith had been relegated to a third of fourth receiver role after the emergence of Curtis Samuel as the No. 2 receiver.

Zyslstra, 26, will primarily serve as a punt returner with Carolina. He had four returns for 26 yards last season for the Vikings to go with one catch for 23 yards.

Smith had 17 catches for 190 yards and two touchdown in 11 games, including six starts, for Carolina in 2018.