Byrd (hamstring) was placed on injured reserve Wednesday.
This transaction will keep Byrd out for the entirety of the 2023 season unless the wide receiver reaches an injury settlement with the Panthers, which would then free him up to sign back with Carolina or join another team. Joe Person of The Athletic believes there's a chance Byrd will attempt to reach an injury settlement with the team, as his hamstring injury requires surgery but isn't believed to be season-ending.