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Panthers’ $45M Move Caps Big First Day of Free Agency

Devin Lloyd, Carolina Panthers

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Devin Lloyd #0 of the Jacksonville Jaguars celebrates after intercepting a pass during the third quarter against the San Francisco 49ers at Levi's Stadium on September 28, 2025 in Santa Clara, California. (Photo by Ezra Shaw/Getty Images)

The Carolina Panthers are beginning the 2026 NFL offseason operating like a team on a mission to be a Super Bowl contender next year.

On day one of the NFL free agency negotiating window being open, the Panthers have already put in a lot of work. They have made moves that will change the future outlook for the franchise.

Earlier in the day, Carolina was able to bring in coveted pass rusher Jaelan Phillips on a massive four-year, $120 million deal. That move alone was a splash that no one expected. The Panthers also were able to agree to terms with Kenny Pickett to be Bryce Young’s backup.

Late in the evening on Monday, Carolina made another splash move.

According to a report from NFL insider Mike Garafolo of NFL Network, the Panthers have agreed to terms on a three-year, $45 million contract with Jacksonville Jaguars free agent linebacker Devin Lloyd.

“Sources to me and @RapSheet : The Panthers have agreed to terms with LB Devin Lloyd on a three-year, $45 million deal with $25 million guaranteed Devin Lloyd,” Garafolo reported on X. “Deal done by his agents @AndreOdom and A.J. Stevens.”

What Will Devin Lloyd Bring to the Carolina Panthers’ Defense?

Lloyd was one of the most popular free agents heading into the first day of free agency. He was pursued by quite a few teams, but Carolina was able to come out on top.

During the 2025 NFL season with the Jaguars, the 27-year-old linebacker played in 15 games. He recorded 81 total tackles to go along with 1.5 sacks, a fumble recovery, five interceptions, a defensive touchdown, and seven defended passes.

Clearly, the Panthers are getting a playmaking linebacker with this addition.

Throughout his entire four-year tenure in Jacksonville, he played in 63 games. He totaled 436 tackles, 3.5 sacks, a forced fumble, five fumble recoveries, nine interceptions, a defensive touchdown, and 26 defended passes.

Having a linebacker who can be elite at dropping back into coverage will be extremely valuable for Carolina. He’s the kind of player in the middle of the defense who can take a good unit and make it elite.

The Panthers Might Just Be a Team to Watch in 2026

Last season, the Panthers were able to squeak out a win in the NFC South division and get into the playoffs. With the offseason they’re putting together, the team clearly has much bigger goals in mind for the 2026 season.

Carolina is starting to look the part of a contender. Adding both Phillips and Lloyd to do the defense are huge improvements.

Assuming Young and the offense can continue improving, the Panthers are going to be a tough team to beat. There are many reasons to be excited about Carolina is building.

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