Here's why the Panthers might be paying OLB Jaelan Phillips the big bucks

The Carolina Panthers may have just reeled in their white whale.

On Monday, the team reportedly agreed to a massive deal with free-agent outside linebacker Jaelan Phillips. Per numerous insiders, the pact will pay the former first-round pick $120 million, with $80 million in guarantees, over four years.

When signed, that contract will make the 26-year-old the one of the highest-paid edge defenders in the NFL on an annual basis.

So, why were the Panthers willing to dish out the big bucks to Phillips? Well, this might be why . . .

The Panthers lurked as a Jaelan Phillips suitor over the weekend—and get it done on a 4-year, $120 million deal with $80 million in guarantees to pry him from Philly. Carolina viewed Phillips as the best player, regardless of position, available in the entire free agent class.

— Albert Breer (@AlbertBreer) March 9, 2026

Phillips has appeared in 63 games over his five-year pro career. He's amassed just 26.0 sacks over that time—but, according to The 33rd Team, finished with the fourth-highest pressure rate in 2025.

The Panthers, conversely, haven't been so great at turning on the heat. Carolina ranked 31st in pressure rate and recorded the third-fewest sacks this past season.

Pending the eventual signing of fellow free agent Trey Hendrickson, Phillips' annual value of $30 million would rank eighth amongst all pass rushers.

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This article originally appeared on Panthers Wire: NFL free agency: Panthers viewed Jaelan Phillips as 2026's best free agent