Smith has two years remaining and nearly $15 million in outstanding base salary.
He’s scheduled to make $7 million this season and $7.75 million in 2012. Any team trading for him would have to pick up those salaries. The only ways around it would be for the Panthers to work some sort of new deal with Smith or for the new team to reach an extension with Smith after he’s traded and push some of his money back.
The option of simply trading for Smith at his current salary is not out of the question. A team with a big need at receiver could make the trade and handle the salary for Smith’s first year. Depending on how that goes, that team could turn around and try to extend Smith.