The Carolina Panthers clearly knew who they wanted in free agency. And they made an offer that priced everyone else out.
The Panthers made one of the surprise signings in the early hours of the NFL’s period to contact free agents on Monday, signing edge rusher Jaelan Phillips. It’s not surprising that Phillips was in demand, or that the Panthers were in the market for one of the top rushers available in free agency. But the price was a shock.
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The Panthers signed Phillips to a four-year, $120 million deal that included $80 million guaranteed, according to ESPN. Only six edge defenders in the NFL have contracts worth more than $30 million per season, and it’s a list of some of the best players in the league: Micah Parsons, Aidan Hutchinson, T.J. Watt, Danielle Hunter, Myles Garrett and Nick Bosa.
Phillips is a good player but it’s hard to put him in that group, in terms of his career accomplishments. He has never had more than 8.5 sacks in a season, and that 8.5-sack season came back in 2021 when he was a rookie. He has 19.5 sacks in the four seasons since. Injuries have held Phillips back, but that’s another reason the Panthers’ contract is exorbitant. Phillips played just 12 games combined in 2023 and 2024, though he rebounded to play 17 games last season between the Dolphins and Eagles. Phillips suffered a torn Achilles in 2023 and a torn ACL in 2024.
Phillips will be just 27 years old next season, so he’s still at a prime age. He is a respected, productive player who has the ability to post a double-digit sack season with the Panthers. And Carolina needed someone on the edge to help improve a defense that did take a step up last season but was still average.
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The player isn’t the problem. Phillips is good. The price is what’s hard to believe. It’s pretty surprising that Phillips is now one of the highest-paid players in the entire NFL. Pass rushers cost money. And the Panthers spent a lot of it to get their target.
Grade: C-