Panthers lauded for going 'big' in 2026 offseason

The Carolina Panthers have had trouble attracting top free agents as long as the franchise has been around. So, like what was done this spring, they have to be a bit aggressive.

First, the Panthers shelled out a cool four-year, $120 million deal for edge rusher Jaelan Phillips. Then, they spent another three years and $42 million on linebacker Devin Lloyd.

While the results are still to be determined, a lot of analysts like their approach. Zachary Pereles at CBS Sports is among them, and has named the two big free-agent signings as their biggest improvement heading into 2026:

We're using "big" in two ways here. First, the Panthers went big: four years and $120 million for Jaelan Phillips, a wonderfully disruptive but oft-injured edge rusher who could take this defense to the next level. They also went big for linebacker Devin Lloyd, who had a terrific 2025 and was the clear top free agent at his position. If both of those players hit, we're likely looking at the repeat NFC South champ. This was a huge money-wise offseason and signals this team wants to compete, not just keep building incrementally.

It would come as a surprise if Lloyd does not perform well to secure the second level of Carolina's defense. At 27 years old, the former first-round pick is still in his prime, and is fresh off his first career Pro Bowl appearance.

The real question is how it will go with Phillips—a massive investment that may have already peaked back in 2022. Injuries have played their role, but Phillips' production has taken a steep dive since his third season in the league with .