The Devin Lloyd Contract Keeps Getting Better

When it seemed like the Devin Lloyd deal couldn't get any better, it did, the Panthers aced this signing

Jacksonville Jaguars linebacker Devin Lloyd (0) reacts to a fumble recovery next to cornerback Montaric Brown (30) during the second quarter of an NFL football AFC Wild Card playoff matchup, Sunday, Jan. 11, 2026, in Jacksonville, Fla. The Bills defeated the Jaguars 27-24. [Corey Perrine/Florida Times-Union] | Corey Perrine/Florida Times-Union / USA TODAY NETWORK via Imagn Images

One of the best signings in all of free agency was second-team all-pro linebacker Devin Lloyd, leaving the Jacksonville Jaguars to join the Carolina Panthers. This was one of the many highlights of the Panthers’ offseason so far.

Devin Lloyd Was One Of the Best Linebackers In the NFL in 2025

Feb 2, 2026; San Francisco, CA, USA; Jacksonville Jaguars linebacker Devin Lloyd (0) during AFC practice at the NFL Flag Fieldhouse at Moscone Center South Building. Mandatory Credit: Kirby Lee-Imagn Images | Kirby Lee-Imagn Images

Lloyd earned second-team all-pro in 2025 because of how well he did on coverage, recording five interceptions on the season, which was tied for second in the league, and seven passes defended.

Lloyd also scored one touchdown on the season, on one of the most impressive plays of the season, picking off Patrick Mahomes for a 99-yard pick-six, leading to a Jaguars win. 

99-yard INTERCEPTION RETURN OMG DEVIN LLOYD pic.twitter.com/f9iU2lIZ5E

— Fitz (@LaurieFitzptrck) October 7, 2025

Through the first five or six weeks of the season, Lloyd was a frontrunner for defensive player of the year, and while he didn’t end up winning the award, he set himself up to find a new deal this offseason and find a new home. Another metric showing how great Lloyd was in 2025: he finished the season with an 89.1 PFF grade, the third-best in the NFL among linebackers.

After the season, the Jaguars decided not to exercise Lloyds fifth year option, making him an unrestricted free agent. Before free agency started, Lloyd was projected to land a deal in the $20 million per year range. His contract with the Panthers was somehow lower than that, and now it looks even better than it did when the initial report came out. 

Carolina Signed Devin Lloyd on a Budget

Oct 5, 2025; Charlotte, North Carolina, USA; Carolina Panthers general manager Dan Morgan on the field before the gsme at Bank of America Stadium. Mandatory Credit: Bob Donnan-Imagn Images | Bob Donnan-Imagn Images

It was originally reported that Lloyd signed with the Panthers on a 3-year, $45 million deal, but new reports now show it’s not even $45 million. The Athletic’s Panthers reporter Joseph Person released new information on Lloyd’s deal, and shows that it’s even more team-friendly than it seemed.

Panthers' contract with LB Devin Lloyd even more of a value than initial reports. Three years, $41.9M; $25M guaranteed, incl. a $15.25M signing bonus.
And a reasonable out after two years if they so chose.https://t.co/OBpouDhrQv

— Joe Person (@josephperson) March 17, 2026

The Devin Lloyd contract was slightly smaller than originally reported, with the total potential value at $41.9 million instead of $45 million. This means Lloyd's yearly salary is around $13.9 million, down from $15 million. This is remarkable for the Panthers, considering Lloyd really should have gotten around $18-$20 million per year based on last season.

This also makes the Jaelan Phillips signing even better, cause while the Panthers did overpay for Phillips, signing a second-team all-pro linebacker to an under-$15 million-per-year deal makes up for it. The Panthers struggled mightily when it comes to their linebackers in coverage, but with Lloyd now on the roster, the defense has a leader, and has elite talent on all three levels.