With the player additions mostly finalized for this offseason, many fans are curious where the Panthers stand in terms of cap space and distribution. In this series, we’ll take a look at just how much the Panthers have tied up in specific position groups over the next couple of seasons, what contracts could be terminated or extended, and what percentage of the cap each group takes up. For this series, I’ll be using the numbers at Over the Cap. Next on our list, the wide receivers!
On the Books
Last year’s first
round pick, Tetairoa McMillan, counts about $6.35 million against the 2026 cap since he’s entering year two of his rookie contract. Xavier Legette is entering the third year of his rookie contract, though his cap hit is only $3.37 million because he was a late first rounder compared to McMillan’s top ten pick status. The Panthers signed John Metchie III to a $1.9 million contract in the offseason as well, and brought back David Moore at about $1.62 million. Both contracts are one year deals with limited guarantees. Chris Brazzell II signed his rookie tender and will make $885,000 this season while Jimmy Horn Jr will make just over $1 million in the second year of his rookie contract. Dan Chisena and Jalen Coker were UDFAs who signed their Exclusive Rights Free Agent tags, meaning both will be making a non-guaranteed $1.075 million this season. Brycen Tremayne, Ainias Smith, and Jaseem Reed round out the wide receiver room with non-guaranteed contracts around $1 million.
Next Year
Tetairoa McMillan won’t be going anywhere because he’s incredible and cutting him would actually lose the Panthers over $16 million in cap space. The team will need to make a decision next offseason on Xavier Legette’s fifth year option, which would hit in 2028 and probably be over $13 million. For next year, though, Legette’s cap hit is around the same only going up about $200,000 (so still just under $4 million). Cutting Legette next year would neither cost nor free any cap space. Chris Brazzell II will get a slight raise as well, probably around $1.2 million, with Jimmy Horn Jr likely getting a similar amount. The ERFA contracts for Tremayne and Coker will expire, so they’ll come off the books (though Coker will absolutely be extended). The remaining receivers are also on expiring contracts, so the Panthers will have some additions they will need to make next offseason.
Measuring Up
All told, the Panthers are sitting around 6% of their 2026 cap dedicated to receivers, which is near the bottom of the league (29th) since they are relying on cheap vets and players on rookie contracts. Teams like the Bengals (19%), Cowboys (17%), and Lions (15%) lead the league in receiver spending in 2026, which should not be a surprise given the massive contracts for multiple receivers on those rosters. Only the Falcons (5.89%), Bears (4.93%), and Dolphins (2.27%) are projected to spend less on receivers in 2026.
