Pânzaru made his Liga I debut on 4 December 1993, for Oțelul Galați in a 1-1 draw against Inter Sibiu.
In 2012, after retirement, Pânzaru started immediately his football manager career at his last club as a player Dacia Unirea Brăila.
[1][2] During the 2017–18 Liga II season he was the protagonist of a controversial moment, when he accused Gabriel Iosofache and Costel Roșu, two of the club players, of match fixing.
[3][4][5] Dacia Unirea was already in the middle of some media speculations at that moment due to some results with frequent score changes, such as: 2-3 (ASU Politehnica Timișoara), 4-4 (Știința Miroslava), 4-3 (Luceafărul Oradea), 2-3 (Olimpia Satu Mare), 3-4 (UTA Arad) or 3-3 (Pandurii Târgu Jiu).
The rumors were also relied on the poor financial situation of the team, with some outstanding salaries of almost a year, the big scandal born at Luceafărul Oradea after the match against Brăila, when the owner of the club retired, the coach suspected his players of being involved in the betting mafia and finally the club being close to implosion and also Dacia Unirea's matches started to disappear from the betting offer.