The Panthers surprised the NFC South by dethroning the Tampa Bay Buccaneers as division champions in 2025. They see it as just the first step towards dominance in the division. And in 2026, they are doubling down on the idea that they can create some separation between themselves and the Bucs (not to mention the rest of the division).
In an ongoing series on Substack, I am looking at each team and division in the NFL in terms of how many resources they commit to their rosters in 2026. Using a self-developed draft pick valuation chart, combined with actual cash (not salary cap charges) spending, I am looking at who is putting how much into their rosters. And Panthers fans should be encouraged about the 2026 outlook for their favorite franchise.
Panthers are committing more resources to their roster than any team in the NFC South
Multiple factors go into building a winning team. Some of those go beyond a resource allocation sheet. Coaching is a huge factor. As is the return each team gets for each player they invest in. Having the first overall pick doesn't guarantee a team a face of the franchise. Spending the most money on a defensive free agent doesn't guarantee a top ten pass rush.
But having those resources certainly increases the margin of error a team has to work with. And this year the Panthers are working with the widest margin of error in the division. Based on my analysis and best projection of each team's final 53-man roster, the Panthers are set to invest more in their 2026 roster than any other team in the division.
Team | 2026 Resources |
|---|---|
Panthers | $414 million |
Bucs | $407 million |
Saints | $370 million |
Falcons | $331 million |
Keep in mind these resources look at cash, not salary cap charges. The Panthers are paying Jaelan Phillips $36.2 million in cash this year. His $10 million cap hit is merely a product of crafty accounting. Owners set cash budgets, not cap budgets.
Pass Rush is all the Rage - and the Panthers are throwing quite the rager
$117 million. That's how much Carolina has sunk into their defensive line. Phillips' price tag leads the way. But they are also paying Derrick Brown and Tershawn Wharton $19.5 million and $14.1 million, respectively this year. Add in another almost $35 million in draft capital and salaries for Nic Scourton, Lee Hunter and Princely Umanmielen and you start to see how focused on creating consistent pressure on opposing quarterbacks.
The Bucs have not invested this much in their defensive line. Ranking second in the division at $94 million, Tampa Bay is a full $23 million behind Carolina. That's where the Panthers hope to separate themselves from the team that has finished at the top of the division for all but one year in this decade.
Panthers and Bucs spending across their rosters
The two teams are close in investments across many other parts of their rosters.
Position Group | Panthers | Bucs | Variance |
|---|---|---|---|
QB | $38M | $42M | TB +$4M |
RB | $22M | $16M | CAR +$6M |
WR | $45M | $54M | TB +$9M |
TE | $14M | $15M | TB +$1M |
OL | $87M | $86M | CAR +$1M |
DL | $117M | $94M | CAR +$23M |
LB | $28M | $26M | CAR +$2M |
SEC | $59M | $67M | TB +$8M |
ST | $4M | $8M | TB +$4M |
The quarterback investment may surprise many, given the Bucs are paying Baker Mayfield $40 million this year while the Panthers owe Bryce Young just under $6 million. But this analysis helps put into perspective the first overall pick the Panthers used on Young.
Tampa Bay has countered the Panthers' outsized spending on the defensive line with $26 million in additional spending on their secondary, special teams, pass catchers and quarterbacks. The sum of this variance amounts to a wash with the defensive line disparity, putting the Panthers ahead at the margins of running back, linebacker and offensive line to the tune of about $9 million.
Resources are the first step, not the last. Committing more than Tampa Bay does not hand Carolina the division, and Dan Morgan knows it. But it buys margin for error, and it puts the Panthers' money exactly where their plan is. Now they have to turn the most expensive pass rush in the NFC South into the kind that wins games. Do that, and 2025 stops looking like a surprise and starts looking like a head start.
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