Instant Grade: Panthers Agree With Jaelan Phillips On Defense-Altering $120M Deal

The Carolina Panthers agreed to terms with ex-Eagles, Dolphins pass rusher Jaelan Phillips on Monday during the NFL's legal tampering window. They agreed to a four-year, $120 million deal with $80 million guaranteed.

It's a steep price to pay, but Phillips ranked at the top of most free agency big boards. He also fills the biggest need this defense has, adding a premier pass rusher to go along with Nic Scourton and Derrick Brown.

Grading the Jaelan Phillips' $120M deal with Panthers

Philadelphia Eagles linebacker Jaelan Phillips (50) walks off the field | Eric Hartline-Imagn Images

It was reported prior to free agency beginning, or to the legal tampering window officially opening, that the Philadelphia Eagles, who traded for Phillips midseason, were trying to re-sign him to keep him in Philly.

That alone suggests the Panthers got a good, valuable player. The Eagles are one of the most well-run organizations in football. If Howie Roseman wanted to keep someone, then that someone is a very good football player.

However, the Panthers did spend an unfathomable amount. They had less than $20 million in cap space before the window opened, and they've now committed $30 million to Phillips. That's going to get dicey.

The Panthers can and will free up space by restructuring contracts, releasing players, and doing other things, including potentially backloading Phillips' deal to cut down on the salary now. Still, much of that would've been nice to have been done beforehand and in an effort to sign multiple players.

Carolina is now all but out of the free agency frenzy. They'll spend on the margins some, but this was the big move they made, and it's really the only one they could possibly afford. Devin Lloyd and others aren't coming now.

Philadelphia Eagles linebacker Jaelan Phillips (50) looks on during warmups prior to an NFC Wild Card Round game | Bill Streicher-Imagn Images

Plus, while Phillips is obviously a very good, very versatile player, he doesn't boast overwhelming sack numbers. He had five in 17 games last season. That's the same as Nic Scourton and Derrick Brown, who tied for the team lead on one of the worst pass-rushing teams in the sport.

He has 28 career sacks in 63 games, which again isn't an overwhelming number. For a similar price, the Panthers likely could've landed Odafe Oweh, whose sack numbers are higher. Still, Phillips is a good player who'll probably do well with the Panthers.

It's just a bit steep and a bit restrictive for Carolina's current situation, leaving other major holes open without money to address them until the draft arrives. Grade: B-