NFL insider lays out Panthers' stifled options for franchise tag

Who could the Panthers use the franchise tag on?

Feb 1, 2024; Charlotte, NC, USA; Carolina Panthers head coach Dave Canales speaks to the media as general manager Dan Morgan looks on during the introductory press conference at Bank of America Stadium. Mandatory Credit: Jim Dedmon-Imagn Images | Jim Dedmon-Imagn Images

The Carolina Panthers have used the franchise tag before, most notably on Brian Burns just last offseason before they ultimately traded him to the New York Giants. The tag is a way for teams to retain players at market value for one more year before they inevitably leave in free agency.

It is often a last-ditch effort to keep players the team knows it can't really afford, like the Cincinnati Bengals tagging Tee Higgins for the second year in a row. The Panthers have a high number of outgoing free agents, but are any of them worth the tag? One NFL insider doesn't think so.

NFL insider says no Panthers player is worth the franchise tag

According to CBS Sports' Tyler Sullivan, there's no one exiting the Panthers roster who's worth a tag. "The Panthers have 21 free agents this offseason, but none rise to the level where the team would need to utilize the franchise tag. For a rebuilding team, they can use their $20.3 million in cap space much wiser," he wrote.

The most impactful free agents leaving Carolina are Austin Corbett, Xavier Woods, and Shaq Thompson. Tagging those players would be unwise. For one thing, Carolina probably doesn't want either Thompson or Woods back, and the tag would cost them over $27 million (for linebacker) or over $19 million (for safety). Corbett would cost $25 million.

There's just no outgoing player on the Panthers that is worth market value at this point, so there's zero reason to use the tag on any of them. Re-signing them on a one-year deal would be much cheaper, but as Sullivan noted, the money is probably better spent on other players to rebuild and reshape the roster after last season.