Panthers Can Easily Free Up Money for David Njoku, Deebo Samuel in Free Agency

The Panthers can still free up a ton of cap space and bring in more veteran talent

Jan 4, 2026; Philadelphia, Pennsylvania, USA; Washington Commanders wide receiver Deebo Samuel (1) against the Philadelphia Eagles at Lincoln Financial Field. Mandatory Credit: Eric Hartline-Imagn Images | Eric Hartline-Imagn Images

One of the bigger spenders in free agency, the Carolina Panthers have made it clear that they intend to win and win right now, but they have the chance to free up even more cap space to really buy into 2026 and beyond.  

Estimated cap space each team can free up through simple restructures

Data: OTC (05/02/2026), payments converted into prorated bonuses. https://t.co/gfNzjFDnoh pic.twitter.com/EfysBo5h1w

— SFdata9ers🏈📊 (@sfdata9ers) May 3, 2026

SFdata9ers, a popular account on X that posts data insights and analytics on the NFL, posted a graph showing how much cap space each team can still free up at this point in free agency. The graph shows that the Panthers can free up the ninth-most cap space in the league by restructuring contracts. 

How the Panthers Find More Cap Space

Nov 24, 2025; Santa Clara, California, USA; Carolina Panthers cornerback Jaycee Horn (8) catches an interception against the San Francisco 49ers during the first half at Levi's Stadium. Mandatory Credit: Kyle Terada-Imagn Images | Kyle Terada-Imagn Images

Carolina has some big contracts on its books; if those contracts are restructured, it will free up significant cap space. Restructuring an NFL contract involves converting a player’s base salary into a signing bonus, which immediately reduces the cap hit. This especially applies to contracts like Jaycee Horn’s. 

The Panthers can free up some more space by restructuring contracts like Jaycee Horn’s and Damien Lewis’s to create more cap, along with a plethora of other moves, but if the Panthers are to do so, they need to bring in more pieces on the offense.

Remaining Free Agents Panthers Should Target

Nov 30, 2025; Cleveland, Ohio, USA; Cleveland Browns tight end David Njoku (85) warms up before the game against the San Francisco 49ers at Huntington Bank Field. Mandatory Credit: Ken Blaze-Imagn Images | Ken Blaze-Imagn Images

There are still some holes in this Panthers roster that can be filled in the later stages of free agency. The first target should be tight end David Njoku, the former Pro Bowl tight end for the Cleveland Browns, who's looking to reestablish himself as a clear TE1 and one of the top tight ends in the league after seeing fewer snaps with rookie Harold Fannin Jr. shining in his first year.

If the Panthers want to get greedy and make a huge splash, then Deebo Samuel would be a target to keep a close eye on, who has still shown flashes of his dynamic ability as a receiver, especially after the catch. Samuel still posted over 700 yards receiving and five touchdowns in what was a down year.

The Panthers are currently $3 million under the cap, which means some sort of restructuring is guaranteed. If Carolina wants to sign either Njoku or Samuel, it’s not going to be that cheap. Njoku is projected to sign for around $10 million, assuming it’s a one-year deal. 

As for Deebo Samuel, he’s projected to be worth around $15 million per season, which would be a big commitment for Carolina, considering he’d likely be a one-year rental as well. 

If there’s one signing that would be more important for the Panthers, it’d be David Njoku. The tight end room needs an upgrade more than the receiver room, which already has a certified No. 1 in Tetairoa McMillan and some underrated depth with Jalen Coker, John Metchie III, and newly drafted Chris Brazzell II.

No matter what happens for the rest of this offseason, the Panthers aren't done making moves and, after freeing up more cap space, could create an even better chance of repeating as NFC South Champions in 2026.