Dan Morgan plays the free agent market absolutely perfect and lands a second massive splash for the Panthers defense
The Carolina Panthers landed free agent linebacker Devin Lloyd.
Carolina Panthers general manager Dan Morgan had a firm plan going into the start of free agency and he is conducting an absolute master class of a performance after missing out last offseason on his top free agent option.
Morgan started the free agent period agreeing to a massive four-year, $120 million deal with former Philadelphia Eagles pass rusher Jaelan Phillips and it’s not the only big swing he’s making to overhaul the team’s defense. The Panthers have now also agreed to a three-year, $45 million deal with former Jacksonville Jaguars linebacker Devin Lloyd, a new franchise leader at the linebacker position.
Dan Morgan played the LB market perfectly after moving quick to sign Jaelan Phillips first
The Panthers decision to strike first on Phillips and wait out Lloyd was a genius plan by Dan Morgan. The Eagles fully intended to re-sign Phillips but the Panthers slid in for a steal after Philadelphia got caught dragging their feet. It was a move no one saw coming and allowed Carolina to land a big-name young pass rusher to the mix.
Lloyd, meanwhile, was a target everyone expected the Panthers to spend big money (potentially close to $20 million a year) on, and way earlier in the day. Instead, Morgan allowed the linebacker market to work for him to lower Lloyd’s asking price. Here are some of the linebacker deals that were signed before the Panthers moved in on this decision.
- Tremaine Edmunds: three-year, $36 million ($12 million APY)
- Quay Walker: three-year, $40.5 million ($13.5 million APY)
- Nakobe Dean: three-year, $36 million ($12 million APY)
- Demario Davis: two-year, $22 million ($11 million APY)
Those deals forced Lloyd to lower his asking price, and when he did, the Panthers pounced (no pun intended) on it, giving him a deal worth $15 million per year. It’s just incredible work all around by the Panthers front office today be able to come away with Phillips and Lloyd, a combo no one could have imagined coming to Carolina 12 hours ago.
What kind of player are the Panthers getting in Devin Lloyd?
“Devin Lloyd is a prime example that playing inside backer in the NFL takes time. In fact, it took years in Lloyd’s case. In 2025, Lloyd finally broke through in his fourth season in the league, earning a trip to the Pro Bowl and being selected as a second-team All-Pro. What you finally saw was the blend of traits and length, matched with experience and instincts.
If Jacksonville had any inclination that he would turn into a player who would go on to record career highs in interceptions and sacks while shedding blocks better than ever, he would have received a 5th year option, and this blurb would be moot. Instead, he joins a new team in his physical prime and with his arrow pointing up.” – A to Z Sports’ Rob Gregson
Where did Devin Lloyd rank in A to Z Sports’ Top-100?
“If there is a time to have a career season, it’s during the final year of your contract. And that’s exactly what Jaguars LB Devin Lloyd did in 2025. He was one of the best LBs and defensive players in the league this past year and is expected to be paid handsomely as a result. If a defense is trying to get faster and more physical, Lloyd should be one of their top free agency targets.” – A to Z Sports’ Destin Adams
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