Jacksonville Jaguars linebacker Devin Lloyd (0) celebrates a fumble recovery with cornerback Montarik Brown (30) during the second quarter of an NFL Football AFC Wild Card Playoff matchup Sunday, Jan. 11, 2026, in Jacksonville, Florida. (Corey Perrine/Florida Times-Union) The Carolina Panthers are spending a lot of money to make sure their return to the postseason isn’t a flash in the pan.
Carolina has signed former Jacksonville Jaguars linebacker Devin Lloyd to a three-year, $45 million contract, sources tell ESPN. The Panthers also committed $120 million over four years to acquire the services of edge rusher Jaelen Phillips, according to NFL.com.
Lloyd earned $25 million guaranteed after recording five interceptions, one fumble recovery, seven pass breakups, 10 quarterback hits and 81 tackles in a 2025 breakout year. He earned second-team All-Pro honors and made his first career Pro Bowl.
It’s a bit of a risk for Lloyd, as Jacksonville decided not to pick up his fifth-year option after three disappointing seasons. He was benched in his rookie season in 2022 and continued to struggle despite regaining a starting spot in 2023 and 2024. But Lloyd played more of a pass-rushing role under first-year defensive coordinator Anthony Campanile and new head coach Liam Coen.
Philips also comes with quite a bit of baggage. The 26-year-old has appeared in a combined 12 games in 2023 and 2024, making nine starts, due to injuries. He then appeared in all 17 contests last season, recording five sacks and recovering two fumbles. Phillips began the campaign with the Miami Dolphins before being traded to the Eagles in Week 10, helping Philadelphia become the team’s No. 1 scoring defense since his arrival.
On the other side of the ball, the Panthers have signed quarterback Kenny Pickett, according to multiple reports. The former first-round pick played for the Las Vegas Raiders last season and is a career starting pitcher with a 16-11 record. Pickett will compete with Andy Dalton for the backup role.
Carolina advanced to the playoffs last season for the first time since the 2017 season, losing 34-31 to the Los Angeles Rams in the wild card round. The Panthers advanced to the postseason despite going 8-9. They haven’t finished above .500 since 2017, when they went 11-5.
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