LaFell is a 6-foot-2, 210-pounder who started every game last season and caught 49 passes for 627 yards and five touchdowns.
LaFell has played for the Panthers for four seasons.
Last season represented the high-water mark of his career.
The Patriots could use a wide receiver if Julian Edelman leaves via free agency.
At this point, Danny Amendola looks to be safe one year after signing with the Patriots.
There has been speculation about his roster status.
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Aaron Wilson covers the Ravens for The Baltimore Sun