National Football League

AP Source: Panthers' Davis waives $8 million bonus

Published Mar. 13, 2012 5:10 p.m. ET

foxsports

A person familiar with the situation says linebacker Thomas Davis has agreed to forego his $8 million signing bonus and take a pay cut to return to the Panthers.

The person spoke to The Associated Press Tuesday on the condition of anonymity because no public announcement has been made.

Davis, who is trying to comeback from three torn ACLs in three years, has agreed to forego the signing bonus he was due and has taken a cut in base salary from $2.25 million to $700,000.

Davis says on Twitter, ''It's obvious that the good Lord and the Panthers organization have truly shown me favor, and for that, me and my family are extremely grateful. I'm looking forward to doing great this season as one of the leaders of our team.''