An hour after the start of the NFL's new league year and Steve Smith is still a member of the Carolina Panthers.
A league source told the Observer's Joseph Person the team will not do anything with Smith on Tuesday. This does not mean Smith will play for the Panthers in 2014, though.
NFL Network is reporting the team is still trying to trade Smith. A trade would give the Panthers something in return for the 14th-year wide receiver, but the team getting Smith would have to take on his $7 million cap hit.
The Panthers did not have to do anything with Smith at 4 p.m. when the league year began. The team can continue trying to shop Smith and get something in return rather than cutting him now, paying him $5 million to not play and leave. It's unlikely Smith would acquiesce to a contract restructure.