With the Panthers offseason underway and free agency just a couple months away, let’s take a look at some of the areas on the roster that Dan Morgan and Brandt Tillis have to address this offseason. Instead of looking at the entire roster, we are going to break the list down by position group. For the projected market value, I’ll be using Spotrac’s numbers. If you don’t agree with how much a player might get in free agency, take it up with them, not me. This week’s focus will be on the wide receivers.

2025 Performance

The Panthers definitely seem to have hit on their first round pick from last NFL Draft in Tetairoa McMillan. McMillan eclipsed a thousand receiving yards en route to the Offensive Rookie of the Year award by a landslide. PFF graded T-Mac as a top twenty receiver in the NFL with a 79.3 overall grade. Jalen Coker was also seen in a positive light by PFF, notching a 75.4 overall grade in just 11 games played. Xavier Legette struggled quite a bit, only earning a 52 PFF grade and sowing doubt among the fanbase about his future. Hunter Renfrow, Jimmy Horn Jr, Brycen Tremayne, and David Moore also participated, only combining for 41 catches between the four of them. In terms of average depth of target, McMillan (11.6) and Coker (10.0) exceeded ten yards, while Legette (9.6) was just under that threshold. Legette also struggled to get yards after the catch, averaging only 2.1 YAC per reception while McMillan and Coker averaged 3.8 and 3.1 yards, respectively.

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The Panthers definitely have their number one wide receiver and a high end number two. Horn provides value as a RAC threat and gadget player, while Legette enters a pivotal year that will determine the rest of his NFL career. What the unit still lacks overall is a true deep threat. Horn is fast but not the type of down field target that gets safeties to back up. If the Panthers can land a player in that mold like Ted Ginn used to be, they’ll have an incredibly well-rounded receiving corps.

Panthers’ Free Agents (with Spotrac expected market value)

David Moore ($2.21M)
Hunter Renfrow ($1.03M)
Jalen Coker (ERFA)
Brycen Tremayne (ERFA)

Two veterans who did not provide much value last season are the only Panthers receivers hitting the open market this offseason. Moore might be brought back just for his veteran presence and familiarity with Dave Canales. He is also a boon on special teams. The Renfrow experiment is likely over. Coker and Tremayne are exclusive rights free agents, meaning if the Panthers offer a one-year tender at the league minimum, they cannot negotiate with other teams and must sign with the Panthers or sit out. The Panthers will absolutely make those tenders, so expect both those players to be on the roster next season.

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Other Teams’ Free Agents (with Spotrac expected market value)

Alec Pierce, Indianapolis Colts ($20.25M)
Rashid Shaheed, Seattle Seahawks ($14.1M)
Marquise Brown, Kansas City Chiefs ($5.5M)
Tyquan Thornton, Kansas City Chiefs ($2.84M)

If the Panthers really want to swing for the fences in free agency, they could make an offer to Alec Pierce or Rashid Shaheed. Both players are known for huge chunk plays and long speed, with Shaheed being the 11th fastest ball carrier in 2025 reaching 21.72 mph top speed on an 87 yard touchdown catch in Week 5. Both those players will have a ton of interest on the open market, so the Panthers might get priced out of that dream scenario.

Marquise Brown and Tyquan Thornton are more realistic options for the Panthers. Hollywood Brown is a known commodity who specializes in deep shots down field, and he’s still only 28. Thornton is another speedster who is a bit younger (25) and adds to the kick return game as well. Thornton broke the top 20 of fastest ball carriers in 2025 with a 28 yard kick return way back in week one. The fact that he accelerated to 21.48 mph in that short a distance shows that his 4.28 forty yard dash was no fluke. Adding that type of speed, even if he doesn’t catch most of his targets, forces the defense to at least think about precenting the huge plays over the top.