What the Carolina Panthers get and lose in Adam Thielen trade

The Panthers netted two draft picks for Adam Thielen, though they attached two picks as well. One of them is conditional, but ultimately, the Panthers don't add any draft capital here. They just improved the picks a little, which is slowly becoming a Dan Morgan specialty. Minnesota sent over a fifth-round pick in 2026 and a fourth in 2027.

Carolina also gets out from under Thielen's salary, which was not terribly weighty anyway. The Vikings are taking it all on, so the Panthers have space to sign some players now if they so choose. The wide receiver's deal ended after this year anyway.

What did the Panthers lose in Vikings trade?

The two picks the Panthers gave up with Adam Thielen were a 2026 conditional seventh-round pick and a 2026 fifth-round pick. As of now, it's unclear what the pick is conditional on, but it is shaping up to be a very late pick anyway.

Of course, they also lose a key playmaker. It cannot be overstated how much Thielen made a difference the past two years. If he hadn't been released by the Vikings originally or if he'd signed elsewhere, it's unclear where any offense would've come from.

DJ Chark, Jonathan Mingo, and Xavier Legette would've been Bryce Young's top targets over the past two seasons, and that is so far from ideal. Even having Thielen didn't mean Young had good production right away, so not having him might've been detrimental to his career.

The Panthers are equipped to handle the loss of Thielen now, but it is a loss. They do not have their most reliable wide receiver anymore, but it seemed like this deal was locked in several days ago, so most people knew he was on his way out.