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Sources: McCoy to sign 1-year deal with Panthers

Former Tampa Bay Buccaneers defensive tackle and six-time Pro Bowler Gerald McCoy has agreed to a one year deal with the Carolina Panthers, sources told ESPN's Adam Schefter. The deal will likely be worth around $8.5 million, sources say.

The Buccaneers and McCoy "mutually parted ways" on May 20.

The Bucs' third-overall draft pick in 2010, McCoy went on to become one of Tampa Bay's most visible and well-liked players on and off the field. But dwindling salary cap space, a high-priced contract, and a shift from a 4-3 to a 3-4 defense under new defensive coordinator Todd Bowles meant it was the right time to move on for the Bucs.