The Carolina Panthers kicked off free agency with the biggest bang imaginable. General manager Dan Morgan knew the pass-rush needed to improve, and he got arguably the best option available on the market by convincing Jaelan Phillips to join this ambitious project.
Acquiring Phillips wasn't cheap. The Panthers reportedly viewed him as the best overall player in this free-agent class. Unlike the situation with defensive lineman Milton Williams last year, Morgan did whatever it took to get him into the building.
And the contract structure of Phillips' agreement proved to Panthers fans that they have the right man managing their salary cap.
Carolina Panthers have covered their bases with Jaelan Phillips contract structure
Phillips counts $9.99 million against the salary cap in 2026. That is going to skyrocket over the final three seasons, but there is no more guaranteed money after 2027. And if this lofty investment doesn't yield the desired results, there are legitimate outs on his deal in 2028 and 2029.
Very nice structure to Jaelan Phillips' contract. pic.twitter.com/qRMyzuvF1h
— Cat Crave (@CatCraveBlog) March 16, 2026
The Panthers brought in a premium player while also covering their bases on an exit strategy. And if all goes well, Carolina will have the chance to restructure this contract to provide additional financial flexibility in the coming years.
One could argue that Carolina overpaid for Phillips. Nobody expected him to get this sort of money, especially considering his injury history and the fact that he's never gained more than 8.5 sacks in a season. However, he's a tremendous scheme fit in Ejiro Evero's 3-4 base system, and if this is the move that gets the Panthers over the hump, nobody will be complaining about the cash.
This also confirms Brandt Tilis's ability to create contracts that work for the player and the club. His arrival from the Kansas City Chiefs completely reshaped the way the Panthers go about their business. He's been nothing short of a revelation — one of the most understated yet important additions made to the franchise since David Tepper became owner. And it may not go unnoticed around the league for much longer.
Tilis was interviewed by the Atlanta Falcons for their vacant general manager position. If the Panthers' current trajectory is any indication, their fierce division rival won't be the only one casting alluring glances on his capabilities moving forward. But until then, Carolina continues to benefit greatly from his presence.
Hopefully, Phillips will be the spark that ignites Carolina's pass-rush to better fortunes. That's going to look favorably on everybody, especially Tilis.