Former Panthers star Adam Thielen agrees to steep pay-cut with Vikings

Thielen apparently wanted to return to Minnesota so much he's willing to sacrifice as much as $6 million for the 2025 season.

Oct 1, 2023; Charlotte, North Carolina, USA; Minnesota Vikings wide receiver Justin Jefferson (18) (left) and Carolina Panthers wide receiver Adam Thielen (19) and Minnesota Vikings wide receiver K.J. Osborn (17) (right) after the game at Bank of America Stadium. | Bob Donnan-Imagn Images

When Adam Thielen decided not to retire and return to the Carolina Panthers for another year, he told reporters that he wanted to be around to help Bryce Young and the rest of a young offense take the next step. The Panthers rewarded him with a raise, and it appeared that all was copacetic.

Either something changed over the next few months to make Thielen feel differently or he was just blowing smoke, because it's now clear that he wanted to return to Minnesota bad enough to take a pretty sizable paycut. According to Tom Pelissero at NFL Network, Thielen has agreed to give up $2 million off his base salary plus have $4 million in incentives removed from his contract.

Adam Thielen takes pay-cut

The #Vikings and WR Adam Thielen have agreed to terms on a revised contract, reducing his salary by $2 million and removing $4M in incentives, per sources.

This wasn’t about money — Thielen wanted to come home, and volunteered to help the team’s salary cap to make it happen. pic.twitter.com/RHok55X89R

— Tom Pelissero (@TomPelissero) August 30, 2025

The Panthers did save $7 million in salary cap room by trading Thielen - and they now have a more clear pecking order and room for their younger receivers to grow into bigger roles.

Then again, Carolina also gave up the guy who was by far their best pass-catching weapon over the last two seasons - and the only really reliable target that Bryce Young had.

It seems fate was also not a big fan of the trade for the Panthers - because another big blow was dealt to Carolina's receiver corps the day after the deal. Jalen Coker apparenly suffered another quad injury (he missed one month last season with another) at practice, and will begin the season on injured reserve.

On the bright side, the Panthers did manage to re-sign Hunter Renfrow - which will help make up some of what they've lost in the slot. However, it's not hard to see that thisWR corps has been significantly downgraded - especially until Coker is able to return to the lineup.

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