The Carolina Panthers signed two of the best free agents available to improve their defense. Earlier in the day, Jaelan Phillips signed a strong four-year deal worth $120 million, and All-Pro linebacker Devin Lloyd also joined the team in a multi-year contract.
Devin Lloyd Signs With Carolina Panthers After All-Pro Season
Lloyd’s addition is one of the best in free agency so far. In what was essentially a prove-it year for his future in the league, he was one of the best linebackers in the NFL, earning an All-Pro berth and making his first Pro Bowl.
The Jaguars, who declined his fifth-year option before the 2025 season, easily came to regret their decision.
They’ll now continue without the linebacker. The Carolina Panthers, who had a massive need at linebacker, stole Lloyd via a three-year, $45 million contract. He’ll now join an ascending group that played inconsistently in 2025, but is likely to improve when next season starts.
It’s a three-year, $45 million deal for Devin Lloyd. https://t.co/lx8y0RUkfP
— Adam Schefter (@AdamSchefter) March 10, 2026
In all aspects, Lloyd was excellent in 2025. Under Anthony Campanile’s leadership, he posted excellent numbers in pass coverage, with 5 interceptions and 7 passes defended. He also had 81 tackles, 10 quarterback hits, and 1.5 sacks, becoming the most important player in Campanile’s unit. Lloyd ranked 36th on PFSN’s LB Impact Metrics last season with an impact score of 76.5.
The Jaguars had high hopes for the linebacker when they made him a first-round pick in 2022. Although his rookie season was positive, Lloyd struggled in Ryan Nielsen’s scheme over the past two seasons, and Campanile’s arrival made him a league star.
The three-year, $45 million deal feels like a bargain for a player who had such a high level in 2025, played in 63 games in four years, and is only 27. He’s now the fifth-highest paid off-ball linebacker in the league, but players who become free agents in Lloyd’s condition usually get close to the top of the position.
His individual performances were key for a defense that ranked as No. 9 in our PFSN Defense Impact Metric. The Panthers, who went shopping and signed Phillips and Lloyd, were ranked as No. 25.
Although they won the division, Carolina knows that there’s a long way to go before becoming a true competitor, and today’s signings are a step in the right direction.
With Lloyd, Phillips, Jaycee Horn, and Derrick Brown leading the group, the expectation is that the Panthers will become a defensive problem for all their NFC South counterparts. The 2025 season represented their first division title in a decade.
Can Carolina put a positive record in 2026 and go back-to-back?
