Conditions: The Carolina Panthers traded wide receiver Jonathan Mingo and a 2025 seventh-round draft pick to the Dallas Cowboys for a 2025 fourth-round pick.

Why they took the step

The Panthers have fallen further into a rebuild this season thanks to the early insertion of Bryce Young — though he could be the starter again — and enough losses to all but guarantee a seventh straight sub-.500 season. The Panthers are not allowed to hang up the phone when someone calls about a trade.

Mingo, a 2023 second-round pick, had apparently fallen out of favor with first-year coach Dave Canales. After averaging 48.7 snaps per game in Weeks 3-5, Mingo has played 15 or fewer snaps in two of the past three games.

The Cowboys are curious buyers, but this appears to be more of a long-term investment. Quarterback Dak Prescott is expected to land on injured reserve with a hamstring injury, and the Cowboys will need a miracle to get back into the playoffs.

However, they need help at receiver, and Mingo is under contract through 2026. He has plenty of physical skills, but needs to improve his game to reach his potential. The Cowboys liked Mingo before the draft and now have the opportunity to work with him.

Cowboys rating: Uhhh…

On one hand, it’s shocking that Mingo went for a similar price as DeAndre Hopkins. But this isn’t about comparing resumes. The Cowboys scored a fourth-rounder as the 23-year-old has two seasons left on his rookie contract.

It’s not very likely that the Cowboys will get much of a return on their investment this season. But if Mingo becomes a solid second or third option behind CeeDee Lamb, no one will dunk on the Cowboys for spending their pick on Saturday on a receiver with upside.

Will McClay has done a great job identifying talent in the draft, and the Cowboys have a decent track record of developing receivers. In this case, it might be okay to trust that the Cowboys know what they’re doing.

But what if they miss? It will be an easy second guess. Mingo has 55 receptions for 539 yards and no touchdowns in 24 career games, so the pick hasn’t exactly worked out. On the other hand, very little has gone right for the Panthers in recent history, so it’s entirely possible that Mingo’s lack of production has more to do with the overall operation than anything he’s done.

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