With no salary cap room left due to having to carry Julius Peppers' $17 million contract, the Panthers haven't signed a single unrestricted free agent since the signing period opened.

Meanwhile, they've lost four of their own: offensive linemen Geoff Hangartner and Frank Omiyale, linebacker Adam Seward and returner Mark Jones.

However, that could all change if the Panthers are able to deal Peppers before the April 25 NFL draft.

If Carolina find the right suitor and Peppers agrees to play along and signs his franchise tender, the Panthers could trade the four-time Pro Bowl defensive end and quickly find themselves with an additional $17 million to spend.

They could certainly use it.

The Panthers need to add some depth on the offensive and defensive lines, as well as in the secondary.

But as of now there has been no movement on the Peppers' front. The Panthers aren't talking and neither is Peppers' agent Carl Carey. That could be viewed as a good sign, but no news has leaked out that there is a deal in place.

The Panthers are likely to play hardball as long as they can with Peppers, holding out for the two first-round draft picks required by the league that an opposing team must surrender should they sign Peppers to an offer sheet. But you get the feeling if a team was willing to do that, the deal would have already been completed.

Instead, the Panthers will likely have to trade Peppers for less - Kansas City set the bar last year getting a first- and two third-round picks from Minnesota for franchised defensive end Jared Allen. Obviously Peppers would have to approve of the trade because he'd first have to sign the franchise tender allowing him to be traded.

If a deal can't be worked out prior to the NFL draft, then the Panthers will likely keep Peppers next season.