Lloyd is 30 years old, and will be a URFA at the end of this season. His 2011 salary is only $1.395 million, which fits easly under the Panthers remaining $2.3 million under the salary cap, so the numbers work.
Lloyd has 19 catches this season, for a team leading 283 yards, a 14.9 yard average.
I'm not sure that Lloyd (6-0, 188) is a good fit for the Panthers, more in line with Steve Smity, and not a big WR.
Maybe a trade of free agent to be WR Brandon Lloyd for Panthers RB Mike Goodson would work. RB Willis McGahee (4.5 YPC) and Tim Tebow (5.3 YPC) are the only Broncos runners averaging 4.0 YPC with over 9 carries, Knowshon Moreno is around 2.4 YPC.