Panthers Have Interest in Ex-Falcons Blockbuster Trade Target: Report

It's highly unlikely edge rusher Trey Hendrickson joins the Atlanta Falcons before the 2025 NFL regular season. Even as he remains a potential trade candidate for the Cincinnati Bengals, he doesn't appear to be a fit with the youth movement along the edge now happening in Atlanta.

But that doesn't mean Hendrickson won't play in the NFC South in 2025.

NFL insider Jordan Schultz reported Sunday the Carolina Panthers are among the top three teams that have shown interest in acquiring Hendrickson from the Bengals. That report came Sunday after NFL Network's Ian Rapoport and Tom Pelissero suggested Hendrickson could be on the move.

"With contract talks at an impasse, the Bengals are listening to trade offers for perennial Pro Bowler Trey Hendrickson," tweeted Rapoport.

With contract talks at an impasse, the #Bengals are listening to trade offers for perennial Pro Bowler Trey Hendrickson, per me & @TomPelissero.

It’s unclear if the NFL sack leader will be playing elsewhere in 2025, and a trade will be a real challenge. But time will tell. pic.twitter.com/WaFX601ew2
— Ian Rapoport (@RapSheet) August 17, 2025

With contract talks at an impasse, the #Bengals are listening to trade offers for four-time Pro Bowl DE Trey Hendrickson, sources tell me and @RapSheet.

No deal is imminent. But the NFL’s reigning sack leader is available for the right price. pic.twitter.com/EFVYNGq8eH
— Tom Pelissero (@TomPelissero) August 17, 2025

Schultz added in his report that Carolina's two biggest competitors for Hendrickson are the Cleveland Browns and Indianapolis Colts.

The #Panthers, #Browns and #Colts are among the teams that have shown interest in trading for #Bengals All-Pro Trey Hendrickson, per multiple sources.

An in-division and in-state trade is highly unlikely and any deal will be tough regardless. Cincinnati is believed to want an… pic.twitter.com/DHPnCuPNki
— Jordan Schultz (@Schultz_Report) August 17, 2025

Once viewed as a potential Falcons trade target early this offseason, Hendrickson led the NFL with 17.5 sacks last season. He also had 17.5 sacks during the 2023 campaign and reached at least 13.5 sacks in 2020 and 2021.

Hendrickson has made the Pro Bowl four consecutive seasons.

But at 30 years old, Hendrickson has failed to receive a long-term contract from the Bengals this offseason. The edge rusher signed a four-year, $60 million contract to join Cincinnati in free agency four years ago. During 2023, he inked a one-year extension worth $21 million.

Hendrickson will be a free agent next March.

Could Panthers Acquire Bengals Edge Rusher Trey Hendrickson?

In a dream world, the Falcons would add Hendrickson to pair with their first-round edge rushers Jalon Walker and James Pearce Jr. What a lethal combination those three defenders could be.

But Atlanta fans will have to keep dreaming about it because such a trade is just about impossible for the Falcons. The team doesn't have a 2026 first-rounder. The Athletic's Dianna Russini reported Monday the Bengals' asking price for Hendrickson includes a 2026 first-round pick and a young defensive player.

Hendrickson will also be expensive to re-sign. The trade compensation and then money needed to sign the edge rusher could make a deal with the Bengals hard for any team to justify.

In 2025, Hendrickson will have a base salary of $15.8 million. His current cap hit is $18.66 million. On a new extension, Hendrickson could make around $35 million on an average annual basis.

But the Panthers are interested according to Schultz. A Hendrickson trade to Carolina might be even more likely after the Panthers lost rookie edge rusher Nic Scourton.

The second-round pick left practice Thursday with what the team initially called heat exhaustion. But ESPN's Adam Schefter reported Saturday afternoon Scourton is dealing with a collapsed lung and is not expected to be ready for the regular season.

The Panthers could bolster their pass rush with Hendrickson and have the rookie slowly work his way back behind the All-Pro.

Hendrickson began his NFL career in the NFC South with the New Orleans Saints. He played four seasons with the Saints, posting his first double-digit sack season with the team in 2020.

Has Anything Changed With Potential Hendrickson Trade?

The top NFL insiders were treating Hendrickson as a developing story Sunday afternoon. But The Athletic's Paul Dehner Jr., who covers the Bengals, presented the Hendrickson situation as more of the same from the offseason.

"This isn't the Bengals casting a line out to drum up interest," wrote Dehner. "The Bengals will always listen. The asking price continues to be significant.

"It's highly unlikely a team will pay it -- and also pay Trey."

What I know about Trey Hendrickson’s situation: It hasn’t changed.

This isn’t the Bengals casting a line out to drum up interest.

The Bengals will always listen. The asking price continues to be significant. It’s highly unlikely a team will pay it — and also pay Trey.

⏳ Like…
— Paul Dehner Jr. (@pauldehnerjr) August 17, 2025

The Falcons are not scheduled to face the Bengals this season. So if Hendrickson stays in Cincinnati, which is the most likely scneario, then the Falcons won't see him in the 2025 regular season.

But as they always do, the Falcons will face the Carolina Panthers twice in 2025 -- Weeks 3 and 11. The Falcons also play the Indianapolis Colts in Week 10.