Panthers part ways with Eric Reid, save $5.5 million

Defensive back Eric Reid has been released by the Carolina Panthers Wednesday afternoon ahead of the 4 p.m. opening of NFL free agency.

What It Means:

Reid is coming off a year in which his raw numbers pass the eye test. He started all 16 games, racked up a career-high 110 tackles and had 6 pass defenses - his most since 2015. But a deeper look at his numbers show he struggled mightily; Reid ranked last out of 65 safeties with at least 50% of snaps played in coverage grade according to Pro Football Focus with a mark of 36.1. Overall, he ranked as the 64th-best safety with a 46.6 total defense grade.

The Panthers are coming off a season in which they ranked 14th in PFF's coverage grade (76.1) and 14th in net yards per attempt allowed (6.2).