Byrd signed with the Panthers on Tuesday, Jourdan Rodrigue of The Charlotte Observer reports.
Byrd was seen as one of the best safeties in the league when he was a three-time Pro Bowler with the Bills, but then, after signing a six-year deal with the Saints, he wasn't the same player. After being released by the Saints during the offseason, Byrd finally will get another shot, with Panthers starting safety Kurt Coleman set for a multiweek absence with a sprained MCL. Byrd likely will fill in as a reserve safety until Coleman is able to make his return to the field.