What the Addition of Rashaad Penny Means for a Crowded Panthers' RB Room

Is another move on the way?

Dec 31, 2023; Jacksonville, Florida, USA; Carolina Panthers running back Miles Sanders (6) during / Morgan Tencza-USA TODAY Sports

Things are getting crowded in the Panthers' running back room. On Monday, Carolina agreed to terms with veteran running back Rashaad Penny. Penny spent five years in Seattle before switching coasts and spending 2023 in Philadelphia with the Eagles. His high-water mark came in 2021 when he ran for 749 yards and six touchdowns.

Penny joins Miles Sanders, Chuba Hubbard, Raheem Blackshear, and rookie Jonathon Brooks as Panthers' running backs under contract heading into 2024. What does this mean for the future of the Carolina running back room? I think the signing of Penny means one of two things.

The first, either Miles Sanders or Chuba Hubbard won’t be on the roster come training camp.

Head coach Dave Canales has zero familiarity with either incumbent Panthers' running back. Canales and Morgan have been given free rein to shape the roster in their image, and the head coach had no say in the signing of Sanders or the drafting of Hubbard.

Sanders, another former Eagle, had an incredibly disappointing maiden season in Carolina. Following a Pro Bowl season in Philadelphia, Sanders inked a four-year, $25 million deal with the Panthers. His 2023 season was statistically the worst of his career, running for a paltry 432 yards and finding paydirt one time.

Financially, Carolina will carry a massive dead cap penalty by cutting or trading Sanders. The most fiscally responsible move would be to trade Sanders after 6/1, as Carolina would save $4.22 million against the cap by moving Sanders this summer.

Hubbard, who, opposite of Sanders, had the best season of his career in 2023, could also be a cap casualty. A release or trade at any point pre or post-June 1st would see Carolina incur a small dead cap penalty that would be far outweighed by the cap savings.

Finances are the first potential reason for the Penny signing, but I think the second could come down to Jonathon Brooks’ ACL rehab.

Brooks tore his ACL against TCU on November 11th. He has stated that he’ll be ready to go come training camp, but Carolina may have other plans for their rookie home run-hitting back. The plan could be to bring Brooks along slowly to fully unleash him in the second half of the season, if not 2025. Signing Penny could signify that plan and give Carolina another back to rotate in during training camp while Brooks waits his turn.