The team announced that Newton is scheduled to undergo minor ankle surgery Wednesday at the Carolinas Medical Center in Charlotte.
Renowned foot specialist Dr. Robert Anderson will perform the operation.
Newton is fully expected to return for training camp after missing some or all of offseason practices, per Rapoport. The recovery timetable is set at four months, NFL Media's Albert Breer adds.
The proposed four-month absence is particularly concerning for Newton because his top four wide receivers from last season are not returning. He won't get a chance to work on timing or build a rapport with his new batch of targets until late July or August.
That obstacle can certainly be overcome, but this is the latest strike against a 2013 division winner that seems more likely to finally get healthy under the salary cap than contend for the Super Bowl in 2014.