Carolina Panthers sign DE LaBryan Ray

LaBryan Ray's extension earns a C- Contract Value Index (CVI), a fair but unspectacular deal that reflects his standing as a rotational defensive end rather than a building-block piece. At $1.145M annually, this is a replacement-level commitment—the kind of deal you strike with a depth contributor who has earned modest security without commanding a true starter's investment. For a defensive end on a Panthers roster sitting at 8-9 with obvious gaps to address, locking in Ray at this rate suggests Carolina is treating him as a plug-and-play reserve rather than central to any aggressive defensive overhaul. The extension's modest terms offer minimal long-term cap strain, but they also signal limited confidence in him as a franchise cornerstone; the Panthers are essentially saying "we'll keep you around, but you're not the answer to our pass-rush equation." Given the preseason window ahead and the team's need to build competitively, this feels like a low-stakes retention move—safe for the balance sheet, uninspiring for the roster's ceiling.