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Three very affordable wide receivers the Panthers could target in free agency

March 10, 2025 by Cat Scratch Reader

AFC Championship Game: Buffalo Bills v Kansas City Chiefs
Photo by Todd Rosenberg/Getty Images

Carolina needs some plug-and-play help at wide receiver. These three veterans could be affordable solutions.

One of the biggest roster gaps for the Panthers to address this offseason is wide receiver. Adam Thielen has been exceptional in his two years in Carolina but he’ll also be turning 35 and missed seven games last year due to injury. Jalen Coker was really good as an undrafted rookie free agent in 2024 while first round pick Xavier Legette showed promise, but had his ups and downs.

Outside of those three guys, the only other wide receivers on the roster are all on futures contracts – Dax Milne, Jordan Matthews, T.J. Luther, and Bryce Tremayne.

The Panthers need additional proven depth with at least one effective, productive, affordable veteran. By “productive” I mean somebody who can put up somewhere around 30 receptions for 300-400 yards. Here are the top three prospects who could potentially do just that:

Justin Watson, Kansas City Chiefs

Bio: 29 years old, 7 years experience

Relevant stats: Averaged 21 receptions and 355 yards over the last three years

Last contract: 2-years, $3.4 million

Watson has been a reliable, productive target for Patrick Mahomes over his last three seasons in Kansas City. In 2023 he had a career-high 27 receptions for 460 yards then followed that up last year with 22 receptions for 289 yards. He also scored seven touchdowns in his three years with the Chiefs. Reports have surfaced that Kansas City has informed Watson’s agent that the team would like to retain the veteran wide receiver, but they don’t have the salary cap space to do so.

Entering his age 30 season, Watson should still have some gas left in the tank. From a salary perspective, he could probably be signed on a similar deal he had with Kansas City for two years and somewhere around $4 million dollars. If he could replicate his recent play by contributing somewhere around 300-400 receiving yards with the Panthers, Justin Watson could be a promising addition.

Mack Hollins, Buffalo Bills

Bio: 31 years old, 9 years experience

Relevant stats: Averaged 35 receptions for 440 yards over the last three years

Last contract: 1-years, $2.6 million

Despite changing teams three times over the last three years, Mack Hollins has found a way to be productive no matter where he has been. In 2022, his only with the Las Vegas Raiders, he put up career highs with 57 receptions for 690 yards. In 2023 with the Atlanta Falcons he registered 18 receptions and 251 yards in 13 games. Last year with the Buffalo Bills he contributed 31 receptions for 378 yards and five touchdowns.

While Hollins has been productive over the last three season, he has also been living on one-year deals that have each landed somewhere between $2.0 million and $2.6 million per year. If the Panthers could land him for somewhere around $2.5 million in 2025, he could be a solid one-year rental.

Van Jefferson, Pittsburgh Steelers

Bio: 28 years old, 5 years experience

Relevant stats: Career average of 1.8 receptions for 24.1 yards per game

Last contract: 1-year, $1.3 million

At just 28 years old with five NFL seasons under his belt, Van Jefferson could be the ultimate “low-risk, high-reward” player in the 2025 wide receiver free agent group. Originally a 2020 second round pick by the Los Angeles Rams, in his second NFL season he put up an impressive 50 receptions for 802 yards and six touchdowns. His career has declined since then, however, as he has bounced between three teams now and spent last year on a 1-year, $1.3 million deal with the Steelers.

While Jefferson’s numbers from last year of 24 receptions for 276 yards and two touchdowns don’t jump off the page, he did that on a paltry $1.3 million contract. His production relative to his cap hit was fair. When it comes to the Panthers, if they think they can “fix” Jefferson and get his production back to where it was earlier in his career, then he could be worth the risk on a very affordable short-term contract. It’s not unreasonable that he could put up 300-400 yards in 2025 in Carolina then let both parties assess his long-term fit.

Filed Under: Panthers

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