As the dust settles on another whirlwind NFL offseason, Carolina Panthers fans are eager to see how the team's roster stacks up—especially where the money's going. In this series, we're breaking down the Panthers' salary cap by position group, using data from Over the Cap. Today, we're turning the spotlight on the wide receivers.

Let's start with the headliners. Last year's first-round pick, Tetairoa McMillan, is already proving his worth, and his cap hit reflects his top-10 draft status: roughly $6.35 million for the 2026 season. Not bad for a player who's quickly becoming a fan favorite. Meanwhile, Xavier Legette, drafted later in the first round, comes in at a more modest $3.37 million cap hit as he enters year three of his rookie deal. That's a bargain for a player with his potential.

The Panthers also made some savvy veteran additions this offseason. John Metchie III signed a one-year, $1.9 million deal, while David Moore returns on a similar short-term contract worth about $1.62 million. Both agreements come with limited guarantees, giving the team flexibility down the road.

Rounding out the depth chart are players on rookie or minimum-level deals. Chris Brazzell II will earn $885,000 this season, while Jimmy Horn Jr. checks in just over $1 million. Dan Chisena and Jalen Coker, both undrafted free agents, signed Exclusive Rights Free Agent tenders worth $1.075 million each—non-guaranteed, but solid value for special teams contributors. Brycen Tremayne, Ainias Smith, and Jaseem Reed fill out the room with contracts hovering around the $1 million mark, also non-guaranteed.

Looking ahead, McMillan is a lock to stay—cutting him would actually cost the Panthers over $16 million in dead cap. The real decision comes next offseason on Legette's fifth-year option, which would hit in 2028 at an estimated $13 million-plus. For now, though, Legette's cap hit barely budges, rising just $200,000 to under $4 million next year. And cutting him? That wouldn't free up any cap space—or cost any, either.

Brazzell and Horn will see slight raises, likely around $1.2 million and $1.1 million respectively. It's a young, cost-effective group with a mix of high draft capital and smart value signings—exactly the kind of balance that keeps a roster competitive without breaking the bank.