How the Carolina Panthers Have an Absolute Steal of a Contract on Offense

He was the second wideout selected in last April’s draft. Tetairoa McMillan had a huge impact on the Carolina Panthers’ passing attack, and was an immediate upgrade on the team’s wide receiver room from the previous season.

In 2024, then-rookie Xavier Legette led the club with 49 catches, while Adam Thielen was the Panthers’ leader with 615 receiving yards and seven touchdown grabs. This past season, McMillan started all 17 regular-season contests for Dave Canales’s club. He finished with 70 catches for 1,014 yards and seven trips to the end zone.

Brad Gagnon of Bleacher Report identified each NFL’s biggest bargain as the free agency period winds down. The 6’5”, 212-pound wideout was his choice for the Panthers.

Tet McMillan draft — NFL Commissoner Rodger Goodell, left, with Arizona Wildcats wide receiver Tetairoa McMillan selected by the Carolina Panthers as the number eight pick in the first round of the 2025 NFL Draft at Lambeau Field. | Mark Hoffman / Milwaukee Journal Sentinel / USA TODAY NETWORK via Imagn Images

Panthers’ WR Tetairoa McMillan came at the right price in his rookie season

“The reigning Offensive Rookie of the Year went over 1,000 yards and scored seven times in 2025,” said Gagnon. “His rookie deal will cost the Panthers $22.8 million over the course of the next three seasons, and 35 wideouts will be more expensive in '26.”

Via Spotrac, McMillan cost the club $5.08 million in 2025. That jumps to $6.35 million this season, $7.62 million in 2027 and $8.89 million in 2028. Who knows what the future may hold down the road, but it’s safe to say that the reigning NFC South champions have already got a lot of bang for their bucks.

All told, the former University of Arizona standout was the Panthers’ first 1,000-yard pass-catcher since Thielen in 2023, who ironically finished that season with the same yardage total than McMillan did this past season. The latter was targeted a team-best 122 times, and five of this seven TD grabs came in the club’s last seven regular-season outings.

Tmac and the T is for Touchdown

Tetairoa McMillan x #ProBowlVote

📺: FOX pic.twitter.com/fN5tchb342
— Carolina Panthers (@Panthers) November 30, 2025

Dave Canales’s club could get even more from Tetairoa McMillan in 2026

Of course, there’s a chance that the rangy wideout could be even more effective this upcoming season if former undrafted free agent Jalen Coker continues to emerge. He finished second on the club with 394 receiving yards, and was tied for second on the club with three TD receptions. Coker was targeted 12 times and caught nine passes for 134 yards and one score in Carolina’s 34-31 playoff loss to the Los Angeles Rams.

McMillan and Coker — Dec 21, 2025; Charlotte, North Carolina, USA; Carolina Panthers wide receiver Jalen Coker (18) celebrates with wide receiver Tetairoa McMillan (4) after a play during the first half against the Tampa Bay Buccaneers at Bank of America Stadium. Mandatory Credit: Bob Donnan-Imagn Images | Bob Donnan-Imagn Images

The point here is that Coker could make life a lot easier for not only for quarterback Bryce Young but McMillan as well. It’s worth mentioning that no player has finished with at least 10 TD catches since Ted Ginn Jr. (10) turned the trick for the franchise in 2015. If the Panthers’ top pass-catcher in 2025 can find the end zone more often this upcoming season, he’ll really turn into a major bargain.