The team also released wide receiver Toney Clemons, tackle Oscar Johnson, defensive linemen Lindon Gaydosh, Alex Hall and Craig Roh, linebacker Anthony Morales and punter Jordan Gay.
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Underwood was signed earlier this offseason as a free agent to replace wide receiver/returner Ted Ginn Jr., who signed with the Arizona Cardinals. However, he failed to do much to impress the Panthers staff during training camp and the preseason.
Pilares was a fifth-round pick by the Panthers in 2011 who has struggled with injuries. McNutt was on Carolina’s roster last season, although he never caught a pass.
Carolina’s roster stands at 79 players. They need to cut four players by Tuesday’s NFL deadline.
