Person adds that Sanchez is expected to be fully recovered from his hip injury at some point in the near future.
Sanchez, 23, is a former fifth round of the Panthers back in 2016. He signed a four-year, $2.6 million contract with the Panthers but was waived coming out of the preseason and later signed to their practice squad.
Carolina promoted Sanchez to their active roster midseason. However, he was waived with an injury designation last week and later reverted to their injured reserve list.
In 2016, Sanchez appeared in five games and recorded nine tackle and no interceptions or pass defenses.
During his college career at Oklahoma, Sanchez recorded 134 tackles, a half sack, 15 interceptions, one defensive touchdown, and 28 pass defenses over the course of 36 games.