Davis was signed to a five-year, $35 million contract extension in July. However, just $8 million was guaranteed through a $7 million signing bonus and a $1 million base salary. The Panthers were already without linebacker Jon Beason for the year due to a torn Achilles' tendon.
The Panthers claimed former Baltimore Ravens middle linebacker Jason Phillips off waivers today.
"I would like 2 take the time and thank every1 that has supported me over my career," Davis wrote on his Twitter account. "Unfortunately, I have re torn my acl. Thx 4 da prayers!!"
The Panthers are likely to go with Omar Gaither, but will also consider Jason Williams, Thomas Williams and Jordan Senn.
For more coverage of the Panthers go to profootball.scout.com.
Follow me on Twitter: @RavensInsider
Thomas Davis tore his ACL for third time
Scout NFL Network Top Stories
LISTEN: Will Bolles Win The Starting LT Job?Nick Kendell and Carl Dumler break down the Broncos situation at offensive tackle. A rookie first-rounder, former second round pick, a high-dollar veteran and more go under the…
Mile High Huddle10:17 PM
Watch: Driver on Hall of Fame HonorWhen did Donald Driver start think about being a member of the Packers Hall of Fame? He discussed that and his record-setting career before Saturday night’s induction.
Packer Report3:57 PM
Monday Decision Coming For TannorTop pass rush target Caleb Tannor is choosing between Auburn and Georgia on Monday.
Inside The AU Tigers2:14 PM
Camp Sleeper: RB Trey WilliamsJon Ledyard profiles a running back who could surprise the Steelers and their fans at training camp.
Steel City Insider9:13 AM
Vikings training camp guideLinks to the Minnesota Vikings training camp schedule, autograph schedule, directions, NFL calendar and more.
Viking Update8:59 AM