Panthers set to give star playmaker pay bump after 2024 performance

Despite missing seven games of the season, Carolina Panthers wide receiver Adam Thielen was still excellent. He led the team in receiving yards despite missing all those games with 615 yards. He also scored five touchdowns to lead the team through the air again. He had one less reception than Xavier Legette, who had six more games and 22 more targets.

No matter how you slice it, Thielen was the best receiver on the Panthers last year, and it wasn't very close. Down the stretch after he returned from injury, Thielen was a star, putting up nearly 100 yards every week and scoring frequently.

Can confirm Panthers are reworking Adam Thielen’s contract, as @JFowlerESPN said.

The Panthers plan to give him a pay bump. Thielen was set to make $6.75 million this year, including a $1.5M roster bonus that hits Saturday.
— Joe Person (@josephperson) March 13, 2025

As a result, the Panthers are set to give him a raise. He was supposed to make $6.75 million this year along with a $1.5 million bonus, but the Panthers are going to up his AAV this year. It's the final year of the three-year deal he signed in 2023.

It does not extend him, though. As it stands, the contract will still end after this season. At 35, Thielen talked about retirement after the 2024 season, so any subsequent deals to extend his playing days will presumably be one-year contracts that are all negotiated after the season ends and he's assessed whether he wants to play.

Dec 22, 2024; Charlotte, North Carolina, USA; Carolina Panthers wide receiver Adam Thielen (19) reacts to his touchdown catch against the Arizona Cardinals during the second quarter at Bank of America Stadium. Mandatory Credit: Jim Dedmon-Imagn Images | Jim Dedmon-Imagn Images

This does hurt the salary cap a little for the 2025 season. The Panthers have been active this offseason and they've spent virtually what they can, and adding Thielen even a small pay bonus only adds to that.

Still, it's just for one year, so it only impacts this season. It effectively signals that, with a smattering of additions yesterday and the day before, the Panthers are by and large done in free agency and are using the remaining cap to reward their best pass-catcher from 2024.

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