Cam Newton will be without his favorite target for a long stretch once again.
NFL Network Insider Ian Rapoport and NFL Network's Mike Garafolo first reported the severity of the injury.
Injured reserve could be an option, per Rapoport, which would wipe out at least eight weeks.
The right foot is the same one Olsen had surgically repaired last season, which cost the tight end eight weeks. After three straight 1,000-yard seasons, the 12-year pro has seen the last two years derailed by injuries.
Rookie Ian Thomas is expected to start in place of the veteran. Olsen's absence will also put the onus on the Panthers receivers to step up. Devin Funchess played a bigger role last season when Olsen was out. Rookie D.J. Moore could also see his playing time increase moving forward.
Olsen's injury wasn't the only bad news for the Panthers' offense. The team also announced that offensive tackle Daryl Williams will undergo knee surgery after exiting Sunday's game with an injury. The news is a big blow to an offensive line that has been dealing with injury issues all summer.
The Panthers won Sunday's game, but Tuesday's news brings big concerns for the offense moving forward.