In March, the Carolina Panthers pulled off a blockbuster trade to acquire the No. 1 overall pick of this year's draft from the Chicago Bears.

The Panthers are in need of a quarterback, and there has been speculation that Carolina will select Bryce Young with the pick. Last week, the former Alabama standout reportedly canceled all of his remaining pre-draft visits with other NFL teams.

The move by Young fueled speculation the Panthers have already informed Young he is their choice. Carolina has held meetings with multiple top quarterback options during the draft process.

CLICK HERE FOR MORE SPORTS COVERAGE ON FOXNEWS.COM

Frank Reich speaks to the media

Head coach Frank Reich of the Carolina Panthers speaks to the media during the NFL Combine at Lucas Oil Stadium March 1, 2023, in Indianapolis. (Justin Casterline/Getty Images)

However, head coach Frank Reich is not letting anyone outside of the organization in on the team's approach heading into Thursday's draft. 

"We'll announce that Thursday at about 8 o'clock," Reich told reporters Tuesday.

Last week, general manager Scott Fitterer hinted that a final decision hadn't been made on the selection. But Reich and Fitterer had a meeting earlier this week and said they reached a consensus.

"He came into my office yesterday at some point and asked the question," Reich said. "It was kind of like a proposal of sorts. And I said yes. There is consensus, and we're excited."

NFL PROSPECT HENDON HOOKER SAYS HE IS THE BEST QUARTERBACK IN THE DRAFT: 'I WOULD HAVE MYSELF AT NO. 1'

Reich, who is entering his first season with the Panthers following his dismissal from the Colts in 2022, admitted the process was not always smooth.

General view of Bank of America stadium

The second quarter of a game between the Detroit Lions and the Carolina Panthers at Bank of America Stadium Dec. 24, 2022, in Charlotte, N.C.  (Eakin Howard/Getty Images)

"There was ebbs and flows during the process," Reich said. "I don't want to say there's any drastic change of mind, but there's ebbs and flows of how much you like a guy. And that's why you have to resist the temptation of making your mind up too early, right? 

"So I thought we as a scouting staff and coaches did a good job of not falling into that trap. Just take it for what it is. Take it day by day. Go on these visits, watch tape. Go through the process. Continue to evaluate and talk it through."

As the Panthers' personnel department provided more information to the coaching staff, Reich said the choice on which prospect the team would select on Thursday became clear.

"I think we all had inclinations early on," Reich said. "Again, not to totally repeat everything I just said. I just think the conviction built gradually. The conviction built gradually for us as coaches because scouts were ahead of us."

Frank Reich coaches against the Patriots

Indianapolis Colts head coach Frank Reich stands on the sideline in the first half of a game against the New England Patriots Nov. 6, 2022, in Foxborough, Mass.  (AP Photo/Charles Krupa)

Reich added that the scouting department's work made it easier for everyone else to feel confident about the decision.

"The scouts were ahead of us. They had already done all their work. So, as we dug in, our conviction started to build slowly but surely."

CLICK HERE TO GET THE FOX NEWS APP

The Panthers will be on the clock at 8 p.m. ET on Thursday when the NFL Draft begins in Kansas City.