The move comes among uncertainty in Panthers ownership after owner Jerry Richardson announced his plans to sell the team.
Panthers coach Ron Rivera received a new contract extension through 2020, the team announced Saturday, in a move that will give Carolina coaching stability.
NFL Network's Ian Rapoport first reported the news, adding the deal is worth $15.5 million. Rivera was originally under contract through 2018.
Rivera signed a three-year, $19.5 million deal extension in 2016.
Carolina is 64–47–1 with Rivera at the helm. The Panthers finished 11–5 this season and play the Saints on Sunday in the Wild-Card round.