Phillips is the second player to sustain a season-ending injury in three days. Starting wide receiver Jeremy Maclin tore his right ACL on Saturday.
Phillips played in 16 games for Carolina last year, mostly on special teams. He spent his first 2 1/2 seasons with Baltimore and was entering his fifth year in the NFL.
Phillips has 17 tackles in 30 career games, including two starts for the Panthers last year.
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