"Today, I had the opportunity to sit down with (general manager) Marty Hurney and have a great conversation regarding my future with the organization. The team and I are both on the same page that it is best we go in different directions for now," Olsen said in a statement. "On the field, I will always cherish the nine seasons we shared together. The wins, the losses, standing at midfield holding the Halas Trophy as NFC champs. The reality of going to the Super Bowl was beyond words, as was the disappointment of falling short...Regardless of what path we choose, I will always be a Carolina Panther."
The 13-year veteran ranks fifth all-time among tight ends in both catches (718) and yards (8,444).
He is the the franchise's all-time leading tight end in terms of receiving yards, receptions, and 100-yard receiving games.
"Consistency is the word that comes to mind when I think about Greg," owner David Tepper said. "A leader, great teammate, unbelievable family man and true professional. Greg brought passion and an intense, detailed work ethic to the stadium every day."
Olsen's agent, Drew Rosenhaus, told ESPN's Adam Schefter that his TE client is "still interested in playing" and is planning to communicate with teams following the Super Bowl.
It's possible, however, Olsen turns to broadcasting. Throughout the past few seasons, Olsen has spent time working with FOX during the network's Sunday broadcasts. According to Richard Deitsch of The Athletic, FOX Sports executives have made it clear to the Olsen that he has an analyst role with the network if he wants it next year.
Olsen will be featured on the network's Super Bowl LIV pregame coverage this Sunday, appearing on FOX Super Bowl Kickoff between 1 p.m. and 2 p.m. ET.