The Carolina Panthers have spent a lot of money this offseason, but did they do it wisely?
The Carolina Panthers definitely splurged in free agency, signing edge rusher Jaelan Phillips to a four-year, $120 million contract while also adding significant pieces like linebacker Devin Lloyd and offensive tackle Rasheed Walker.
But how good of a job did the Panthers actually do on the open market?
Well, ESPN's Ben Solak doesn't seem to think Carolina was one of the big winners of free agency, ranking its haul 18th among all 32 NFL teams.
Solak's biggest issue for the Panthers? The Phillips signing ... particularly considering how much money they gave him.
"The Panthers desperately needed edge-rushing help, and Phillips' run-defending prowess will make Ejiro Evero's defensive structure a lot more functional on run downs. But man ... that's a lot of cash," Solak wrote.
Of the $120 million Carolina handed Phillips, $80 million is guaranteed, which is a heck of a lot for a player with such an extensive injury history.
Phillips tore his Achillies with the Miami Dolphins in 2023 and then tore his ACL the following season, two of the worst injuries a professional athlete can sustain.
Not only that, but there are legitimate questions as to how good Phillips actually is.
Jaelan Phillips. Credit: Eric Hartline-Imagn Images.The former first-round pick split the 2025 campaign between the Dolphins and the Philadelphia Eagles, as he was dealt to the Eagles at the trade deadline.
In 17 games between the two squads, Phillips managed 53 tackles, five sacks and 14 quarterback hits. Decent numbers, sure, but worth $30 million in average annual value? Debatable.
Phillips did flash impressive talent during his early days in Miami, registering 42 tackles and 8.5 sacks during his rookie campaign in 2021 and following that up with 61 tackles, seven sacks and 25 quarterback hits in Year 2.
The University of Miami product then suffered the Achilles injury during his third season, which certainly threw a massive wrench into his career trajectory.
The Panthers totaled just 30 sacks in 2025, so they absolutely need to add at least one pass rusher. But like Solak said, I'm not so sure that giving Phillips that type of money was the best solution.
We'll see if Carolina picks up another edge rusher in the NFL Draft next month.
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