Carolina Panthers free safety Charles Godfrey has taken a substantial pay cut to reduce his 2014 salary cap number, according to reports.

Godfrey was scheduled to count $7.1m (£4.2m) against the cap in the upcoming season, but his new restructured deal reduces that by more than $4m (£2.4m), with his base salary being cut from $5m (£2.9m) to $750,000 (£442,000).

The Panthers had the option of cutting the 28-year-old with a June 1 designation to save more than $5m (£2.9m) against the cap, but have instead chosen to come to terms on a new deal.

The team has also signed former Atlanta Falcons safety Thomas DeCoud as cover for Godfrey, who suffered a season-ending ACL injury in the second match of last season.

Godfrey was picked in the third round of the 2008 Draft and has been with the Panthers ever since, recording three sacks, seven forced fumbles and 11 interceptions in his 75 appearances for the team.