Analyst says Panthers have made NFL's 'riskiest moves' in first wave of free agency

Coming into the offseason, the Carolina Panthers knew it was going to be a chore to rebuild a defense that allowed the most points in a single season in NFL history.

Despite having limited cash to work with, the Panthers put together some nice-sized deals for a package of defensive free agents while also locking up their own, Jaycee Horn, with a four-year, $100 million contract, making him the highest paid defensive back in the history of the league.

Kevin Patra of NFL.com recently called the Panthers' defensive signings among the "riskiest moves" in the first wave of free agency.

Patra's thoughts on the Panthers' moves

Dec 22, 2024; Charlotte, North Carolina, USA; Carolina Panthers cornerback Jaycee Horn (8) questions a call by the official during the second half against the Arizona Cardinals at Bank of America Stadium. Mandatory Credit: Jim Dedmon-Imagn Images | Jim Dedmon-Imagn Images

"The Panthers made Jaycee Horn the highest-paid defensive back in the NFL, a semi-surprising move, considering he's never played a full slate of games. With Horn coming off by far his best season, Carolina is paying a premium for a player it believes will continue to ascend. Getting ahead of future deals for Sauce Gardner and Derek Stingley Jr. was smart, but giving Horn a bigger contract than Defensive Player of the Year Patrick Surtain II? Meh.

"Morgan wasn't done shelling out cash, handing $17 million per year to safety Tre'von Moehrig, making him the fifth-highest paid at the position. I liked the ballhawk's improvement over the past two seasons, but that's a hefty price. And Patrick Jones II got two years, $20 million, despite a 6.7 percent pass-rush win rate."

Did Dan Morgan overspend?

Feb 25, 2025; Indianapolis, IN, USA; Carolina Panthers general manager Dan Morgan speaks during the NFL Scouting Combine at the Indiana Convention Center. Mandatory Credit: Kirby Lee-Imagn Images | Kirby Lee-Imagn Images

Patra was also not a big fan of the Panthers "overpaying" for Tershawn Wharton after missing out on Milton Williams, who opted to sign with the New England Patriots.

The reality is, the Panthers are stuck paying what I like to call "rebuild tax," meaning you're going to naturally have to pay a little more to get quality players to be a part of what your rebuild. That's not the case with every free agent landing in a similar situation, but when other teams are in the mix who are a little closer to Super Bowl contention, or are viewed as perennial playoff teams, you have to be willing to spend a little more to get a deal done.

Why Horn was worth every penny

Injury history is the only concern with Horn. He has missed a good chunk of time, appearing in 37 games in four years, but I don't know if he's quite to the point where people can rightfully slap the "injury prone" label on him. He played in all of two games this past season and the injury he had early in his rookie season in Houston was a freak injury more than anything. When healthy, he is without question one of the best cornerbacks in the entire league.

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