CHARLOTTE, N.C. -- The Carolina Panthers began retooling their receiving corps with the acquisition of former Tampa Bay Buccaneers do-it-all Russell Shepard.

Shepard hasn't shown the ability to replace Ted Ginn Jr. -- who signed Thursday with the NFC South rival New Orleans Saints -- as an elite speed receiver. But he does offer help on special teams and is emerging as a receiver.

Terms: Three-year deal

Grade: C-plus. He's not a big name, so you won't see the deal splashed all over SportsCenter. But Shepard is the type of player general manager Dave Gettleman likes. He emerged last season as a threat at receiver, catching 23 passes for 341 yards and two touchdowns after grabbing seven passes in his first three seasons combined. He's also a special-teams star as a gunner. He just won't be able to replace Ginn as an elite speed receiver and return specialist. But there is upside in the 6-foot, 195-pound player who was a quarterback at LSU.

What it means: This means the Panthers saw something in Shepard that makes them believe he can be a viable option to replace Philly Brown, who became an unrestricted free agent Thursday when Carolina didn't tender him an offer. It also means the Panthers are further committed to upgrading special teams, where Shepard has excelled. You may remember him as the player Carolina linebacker Thomas Davis flattened on a crossing route in a game at Tampa Bay last season when neither player was near the ball. Davis later apologized for the hit. Carolina coach Ron Rivera called it "bush league" that the play was replayed in slow motion on the big stadium screen.

What's the risk? Remember Tiquan Underwood, another former Buccaneers receiver who signed a two-year deal with Carolina in 2014 when the Panthers were retooling to replace Steve Smith? He supposedly was an up-and-coming receiver, too. The difference here is Shepard can contribute on special teams, and there's always room for players who do that.