PFF Rankings Unfortunately Suggest Panthers Massively Overpaid for Jaelan Phillips

The Carolina Panthers shocked everyone, including us, by signing Jaelan Phillips in the early hours of the tampering period of free agency. No one thought the Panthers had the funds or would be willing to make a $120 million splash.

Phillips ranked near the top of most free agency big boards. He's an edge rusher who provides pressure at a rate so few others can match. It's not a surprise that he got a big contract, even if it's surprising the Panthers gave it to him.

But despite all that, Phillips has been labeled as overpaid. And unfortunately, based on PFF's overall edge rankings, it's hard to disagree with that sentiment.

Panthers may have paid top edge money for a good but not great Jaelan Phillips

Philadelphia Eagles linebacker Jaelan Phillips (50) walks off the field | IMAGN IMAGES via Reuters Connect

The Panthers signed Jaelan Phillips for four years at $120 million. It's one of the biggest free agent contracts in franchise history. The Panthers believe Phillips will totally transform their defense, and they're paying for it.

Unfortunately, he was paid at a level he may not be at. PFF released their 2026 edge rusher rankings, and Phillips does rank as one of the best in the NFL, just not nearly the level his new contract might suggest.

Phillips is being paid the eighth-most (by annual salary) among all edge rushers. By total value, he's being paid the sixth-most. Either way you slice it, that's top-10 edge rusher sort of money. Phillips isn't that as of now.

PFF's Gordon McGuiness ranked the top 32 edge rushers, and Phillips landed 30th. That's a pretty sizable gap between his ranking and his contract.

McGuiness wrote, "Another player who turned a midseason trade into a monster contract this offseason, Phillips came good last year after struggling with injuries in 2023 and 2024. While he didn’t hit the heights he did in 2022 when he earned a 90.1 PFF pass-rush grade, he still generated 76 pressures from 437 pass-rushing snaps and produced a career-high 17.4% pressure rate."

Phillips is a very good player, but the money is still steep. However, it's not the end of the world because the Panthers set themselves up well to handle the financial burden a $120 million deal carries.

Plus, there are good reasons the Panthers had to pay such an exorbitant amount, chief among them the desperate need for an edge rusher. The Panthers have had one of the worst pass rushes in the entire NFL for years.

Nothing Ejiro Evero did worked. Blitzing didn't get pressure, nor did rushing four. Derrick Brown and Nic Scourton are solid rushers, but they routinely got doubled and there was no semblance of a pass rush last year or any years prior.

Philadelphia Eagles linebacker Jaelan Phillips (50) celebrates a sack | IMAGN IMAGES via Reuters Connect

Secondly, the Panthers are not exactly a free agent destination. They seem to be on the rise, but Phillips wouldn't have ditched the 2024 Super Bowl-winning Philadelphia Eagles to go to the Panthers if not for a high price.

The Panthers did win their division, but they still fell under the "bad team with a lot of money" umbrella since they were 8-9 and got outscored by 69 points in 2025. They had a need, Phillips was in high demand, and they aren't a destination.

Add all that up and you get a four-year, $120 million overpay that probably still won't age that poorly.

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