Jaelan Phillips Cashes In; Eagles Lose Out On Top Free Agent Priority

The Eagles lost out on their top priority in free agency when edge defender Jaelan Phillips agreed to a monster four-year, $120 million deal with the Carolina Panthers, according to NFL sources.

Philadelphia budgeted heavily to bring Phillips back, and signs were strong that a deal was close. Once the legal negotiating period began, however, the organization’s walkaway number was surpassed by the $30M average annual value and $80M in guarantees the Panthers outlayed for the rangy pass rusher.

Phillips, who turns 27 in May, was regarded as one of the best free agents regardless of position, a status tied to his youth, demonstrated performance, and the value oh his position.

The $30M number would rank No. 8 among edge defenders in the NFL, according to OverTheCap.com.

Without Phillips in the fold, the Eagles have only Nolan Smith and Jalyx Hunt under contract on the edges, along with futures signing Jose Ramirez, meaning the position remains a high priority for GM Howie Roseman.

Roseman had confirmed his interest in bringing back Phillips at the NFL Scouting Combine last month, and now must pivot.

One complicating factor to that is the size of Phillips’ deal which would virtually guarantee a 2027 third-round pick in the compensatory market as long as Philadelphia doesn’t cancel it out with its own big-money signing in free agency.

Previously, Roseman addressed that very possibility.

"We understood, also, here’s the worst-case situation, which is he’s going to be a free agent. If he leaves as a free agent, you have to not sign somebody to get the (compensatory) pick for next year," the GM admitted.

The Pivot

That could mean the trade market, where talented pass rusher Jonathan Greenard is available from salary-cap-strapped Minnesota. However, there is significant interest around the league in Greenard, who is a very good two-way player and wants more money his $19M AAV.

Also in the mix could be Phillips’ former teammate in Miami, Bradley Chubb, who will turn 30 in June and will be less expensive than Phillips.

Chubb had 11 sacks while playing for Eagles defensive coordinator Vic Fangio with the Dolphins in 2023.

The other top edge rushers in the 2026 free-agency class were quickly scooped up after Phillips signed. Odafe Oweh got four years and $100M to leave the LA Chargers for Washington, Seattle's Boye Mafe got three years and $60M from Cincinnati, and Indianapolis' Kwity Paye received a three-year, $48M deal with Las Vegas.

Veteran Trey Hendrickson, coming off an injury-plagues season with the Bengals, remains in play.

Phillips joined the Eagles at the trade deadline from Miami last season in exchange for a 2026 third-round pick.

He immediately became the centerpiece of the edge rotation with Smith and Hunt, playing 78% of the Eagles’ defensive snaps in his eight regular-season games.

While only generating two sacks with the Eagles, Phillips was top 10 in pressure rate and hurries suring his time with the organization.