Panthers earn decent grade for 'huge risk' in free agency

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When evaluating the Carolina Panthers' free-agent haul each year, one has to keep in mind that this is not considered a desirable franchise destination for most players. Charlotte is far from the allure of playing in New York, Los Angeles or Chicago, and the Panthers have been a losing team far more often than not over the last decade.

So, when the Panthers signed outside linebacker Jaelan Phillips to a four-year, $120 million deal, it is fair to call it an overpay. But it's also fair to keep in mind that the organization must take that approach until they become one of those premier landing spots.

That's definitely the case for Phillips, whose deal is worth more than the one four-time Pro Bowler Trey Hendrickson signed with the Baltimore Ravens this spring. According to a re-grade of the NFL's biggest offseason moves by Moe Moton at Bleacher Report, the Panthers deserve a 'B' for the signing.

Moton writes:

Jaelan Phillips made our list of the most overpaid players at every position, but that doesn't mean the Carolina Panthers deserve a low grade for this signing... Carolina signed Phillips to the biggest deal among 2026 free agents, which is a huge risk given his injury history. He's missed nine or more games in two out of five seasons. Even while healthy for full 17-game slates, the 27-year-old has yet to log a double-digit sack campaign.

This investment is, without a doubt, a huge roll of dice by general manager Dan Morgan and company. Betting $30 million a year on a player on an unproven track record and a pair of serious lower-body injuries (Achilles and knee) is quite risky.

Phillips, however, has flashed some promise. 2025 saw Phillips appear in 18 out of a possible 18 games and post 76 pressures—the ninth-most at his position.

If Phillips can grow into the pass rusher the Panthers are paying him to be, this gamble will turn into a hit in Carolina.

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This article originally appeared on Panthers Wire: Panthers earn decent grade for 'huge risk' in free agency

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