The Panthers have conceded the inevitable: Julius Peppers will become a free agent this offseason.

According to ESPN.com, Carolina won’t use its franchise tag on Peppers unlike it did last offseason.

If the Panthers had opted to tag Peppers, it would have cost them $21.4 million — about $1.3 million per game — which the team deemed too pricey. Peppers will be one of the highest-profile free agents since Reggie White.

Teams have until 4 p.m. ET on Thursday to use their franchise tags.

Let the bidding war begin. Any number of teams ranging from the Patriots to the Eagles to the Saints could make a play for Peppers, who will be the biggest name on the free agent market this offseason. Perhaps the most interesting decision Peppers faces is whether or not he wants to stand up and play outside linebacker in a 3-4 like he suggested last year, or if he wants to stay at his traditional 4-3 end position.

We’ll find out soon.

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