Carolina Panthers sign LB Jaelan Phillips

Jaelan Phillips' four-year, $120M signing earns a D Contract Value Index (CVI), a verdict that reflects significant structural overpay relative to market precedent for linebackers at his production tier. At $30M AAV, Phillips is positioned in the upper echelon of linebacker compensation—territory typically reserved for elite, high-volume tacklers or Pass-rushers with franchise-altering impact—yet his performance profile does not justify that premium. The Panthers are betting on upside and scheme fit at a moment when the secondary remains their more pressing investment, which suggests front-office conviction in Phillips' ability to elevate the defense; however, the contract's length and total value leave minimal room for error if that development stalls. This deal will immediately consume meaningful cap real estate during a preseason window when Carolina sits at 8-9 and needs every dollar to address roster depth, and the four-year structure limits flexibility should the linebacker market cool in 2027 or 2028. The recent narrative around Phillips and quarterback interaction has created positive momentum, but sentiment alone cannot overcome the hard math: at $30M AAV, Phillips enters the deal as an above-average starter, not an elite tier player, which makes this one of the more aggressive linebacker investments the league has seen in recent offseasons.