Panthers shell out $165 million in contracts to 2 new stars in free agency

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The Carolina Panthers aren't messing around in free agency.

They're coming off a surprise division title in the NFC South, but they also know they have to get better to keep up with the Tampa Bay Buccaneers, New Orleans Saints and Atlanta Falcons.

They're doing their best to do that in free agency, and on the first day of the negotiating window, they made two huge signings.

The first one was pretty early on Monday, a four-year, $120 million deal to get Jaelan Phillips from the Philadelphia Eagles.

Then the Panthers got busy in the evening with a three-year, $45 million contract for Devin Lloyd from the Jacksonville Jaguars, per ESPN's Adam Schefter.

Those are two very different player types, but a pair of statement signings.

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Panthers sign Jaelan Phillips free agent news

Phillips instantly becomes the Panthers' top edge rusher and will get after opposing quarterbacks.

He started 2025 with the Dolphins, then was traded to the Eagles, and now lands a mega deal.

The Panthers also got their defensive signal caller in Lloyd from the Jags.

He can lead that whole unit to try and get back to the postseason.

It was a great pair of signings, adding up to $165 million in commitment, to upgrade the Panthers.