Why Eagles Letting Jaelan Phillips Walk to Sign With Panthers for $120M Is Looking Smart Already

On the first day of the 2026 NFL offseason, the Philadelphia Eagles were dealt some tough news, as they lost a big free agent to a new club.

Jaelan Phillips, the pass rusher they traded a third-round pick to the Miami Dolphins for at the 2025 NFL Trade Deadline, signed with the Carolina Panthers on a huge $120 million deal.

However, while losing Phillips as a player stings, Bleacher Report's Brad Gagnon named Phillips' $120 million contract over the next four years as one of the top-10 worst contracts in the league, proving the Eagles were smart to let Phillips walk in free agency.

"Injuries cost him the vast majority of 2023 and 2024 with the Dolphins before they moved on, and he managed just two sacks in eight games as an Eagles rental in 2025," Gagnon writes. "... it's surprising he's one of just 13 defensive players in the $30 million AAV club."

The Eagles lost Phillips to the Panthers, but it worked out better for Philly in the end. They aren't paying Phillips, a solid player with some questionable injury history, such a lofty contract amount.

$120 million over four years is a lot of money, and as Gagnon noted, the "kicker" to this deal being ranked as the 10th worst contract in the NFL is the end of his contract.

Phillips is slated to cost the Panthers $38.8 million as a 30-year-old in 2029, unless the team dumps him before then," Gagnon writes. "In that case, they'd have paid him $90 million over three presumably disappointing campaigns."

This $30 million per-year deal is a lot of money, and with the final year being worth nearly $40 million, the Panthers are stuck with this massive contract for a while.

Considering the Eagles need to sign Quinyon Mitchell, Cooper DeJean, Jalen Carter, and others to long-term deals, which will be worth a lot of money, not spending so much on Phillips is a big win.

Besides, the Eagles were able to trade a reasonable package to the Minnesota Vikings for Jonathan Greenard, who was then signed to a four-year, $100 million contract.

The Eagles spent a few draft picks, saved $20 million overall, and might've gotten the better player at the end of the day anyway.

It's way too soon to determine that letting Phillips walk was the right decision, but considering Phillips' contract is already ranked as one of the 10 worst in the league, things are already weighing in the Eagles' favor for making the right decision with the star edge rusher.