Per ESPN's Adam Schefter, the Carolina Panthers will receive a compensatory third-round draft pick. The Washington Redskins, Baltimore Ravens, and twice over for the New England Patriots and Los Angeles Rams have picks in the third round.

The exact formula the NFL uses to award draft picks hasn't been released to the public. However, the basic premise of the formula is based on free agency. The team that loses more or better free agents than they acquire is eligible to receive these draft picks.

Due to this formula, those who received these picks were the Patriots, Cardinals, and Redskins. Each of these teams has four draft picks in the upcoming. Now, because of their additional picks, the Patriots have 12 total picks in the upcoming

One added part of these compensatory picks is that they are now allowed to be traded. It was against league rules the past two years until the league decided to change the rules. Organizations are now allowed to swap picks

The draft is set for April 25-27 and will be held in Nashville, Tennessee.

The Panthers went 7-9 this past season and finished second in the NFC South Division. They were not able to make the playoffs. They have a lot of work to do this offseason with their first order of business being adding some weapons on offense for Cam Newton.

Carolina needs to find success in the draft this year. If they can bring in some young talent, it will jumpstart the process to getting back to the playoffs.