Panthers Sign Devin Lloyd and Jaelen Phillips in Big Free Agent Moves

Carolina adds top linebacker and edge rusher to bolster defense after playoff appearance

Published on Mar. 10, 2026

Got story updates? Submit your updates here. ›

The Carolina Panthers have made a pair of big free agent signings, inking linebacker Devin Lloyd to a 3-year, $45 million contract and edge rusher Jaelen Phillips to a 4-year, $120 million deal. Lloyd comes off a breakout 2025 season with the Jacksonville Jaguars, while Phillips joins the Panthers after playing for the Miami Dolphins and Philadelphia Eagles.

Why it matters

These moves show the Panthers are serious about building on their surprise playoff appearance last season and returning to consistent contention in the NFC. Adding top-tier defensive talent like Lloyd and Phillips should significantly improve a unit that struggled at times in 2025.

The details

Lloyd recorded 5 interceptions, 1 fumble recovery, 7 pass breakups, 10 QB hits, and 81 tackles in his breakout 2025 campaign, earning second-team All-Pro and his first Pro Bowl selection. However, he had a rocky start to his career, getting benched as a rookie in 2022 before rebounding the last two seasons. Phillips, meanwhile, has dealt with injury issues, playing in just 12 combined games in 2023-24 before starting all 17 contests last year, recording 5 sacks and 2 fumble recoveries.

  • Lloyd signed a 3-year, $45 million contract with the Panthers on March 10, 2026.
  • Phillips signed a 4-year, $120 million deal with the Panthers on March 10, 2026.

The players

Devin Lloyd

A linebacker who spent his first 4 NFL seasons with the Jacksonville Jaguars, making the Pro Bowl in 2025 after a breakout campaign.

Jaelen Phillips

An edge rusher who has played for the Miami Dolphins and Philadelphia Eagles, signing a lucrative 4-year deal with the Panthers.

Kenny Pickett

A quarterback who played for the Las Vegas Raiders last season and will compete for the backup role in Carolina behind Andy Dalton.

Got photos? Submit your photos here. ›

What they’re saying

“We must continue to build a championship-caliber roster, and adding players like Devin and Jaelen is a big step in that direction.”

— Dave Tepper, Panthers Owner (Panthers Press Release)

What’s next

The Panthers will look to integrate Lloyd and Phillips into their defense during the offseason program and training camp, with the goal of the new additions helping the team build on last year's playoff appearance.

The takeaway

The Panthers are making a clear statement that their 2025 playoff berth was no fluke, aggressively pursuing top defensive talent in free agency to elevate the roster and put the team in position to compete for a division title and deep postseason run in 2026.