Most significant move: Carolina thought so much of wide receiver Tiquan Underwood in free agency that it gave him a two-year deal that included a $300,000 signing bonus. The hope was he would replace Ted Ginn Jr. as the speed receiver and possibly double as a return specialist. It never happened. Underwood continued to show the inconsistencies as a receiver that have plagued him throughout his career. For every good catch he made in practice, he had at least one drop, and he was cut for the ninth time in his career.

Wild card: Wide receiver Marvin McNutt was mentioned as a young player the Panthers wanted to get a good look at when they released Steve Smith in March. He never was a factor in being among the top six. Kealoha Pilares was listed as the No. 1 kickoff returner halfway through training camp in Spartanburg, but he never did anything as a receiver to justify wasting a spot on the roster.

What's next: You'd think the Panthers would scour the waiver wires looking for a return specialist who also can play wide receiver. Not so quick. Coach Ron Rivera says he likes undrafted rookie Philly Brown as a returner and sees potential in the former Ohio State star as a receiver. Brown has the speed the Panthers were looking for in Underwood, and he'll cost a lot less. That being said, I still wouldn't be surprised to see the Panthers take a shot at somebody when final cuts are made.

Panthers moves: Released -- WR Tiquan Underwood, WR Toney Clemons, P Jordan Gay, DT Linden Gaydosh, DE Alex Hall, T Oscar Johnson, WR Marvin McNutt, LB Anthony Morales, WR Kealoha Pilares, DE Craig Roh. PUP -- WR De'Andre Presley. IR -- QB Matt Blanchard, TE D.C. Jefferson, C Kevin Matthews.