The Carolina Panthers got a lot better during NFL free agency. In fact, Carolina arguably became NFC contenders after making a few big splashes during free agency to upgrade their defense. The Panthers exceeded expectations in 2025 by winning the division and nearly beating the Rams in the playoffs. Now the expectations will be through the roof in 2026.
But did the Panthers nail every signing during free agency? Or will they end up regretting one or two of these contracts?
Here are grades for every external signing made by the Panthers during NFL free agency.
Jaelan Phillips – EDGE
The biggest splash during this year's free agency cycle, from any team, may be Carolina landing Phillips.
Carolina inked Phillips to a four-year contract worth $120 million, immediately paying him like a top edge rusher. The Panthers made a big bet that Phillips will be worth every penny.
Phillips has been trapped in Miami much much of his NFL career, which makes it tough to judge his talent. He did manage eight-and-a-half sacks during his rookie season. The Panthers will want him to exceed that production in 2026.
Carolina now has a well-rounded defense with great talent at every level. There's reason to believe that Phillips can reach his full potential with an ascending team like the Panthers.
The grade here gets a bump for aggressiveness and adding a high-upside player at a premium position. If this signing hits, the Panthers could become NFC superpowers this fall.
Grade: A+
Devin Lloyd – LB
Carolina also spent some big money on Lloyd to upgrade their linebacker room.
The Panthers did not have much beyond third-year linebacker Trevin Wallace to build around at linebacker. Now they have a solid pair of starters with Lloyd and Wallace.
LLoyd flashed his awesome potential in 2025, especially when playing in coverage. He logged 81 total tackles with one-and-a-half sacks and a whopping five interceptions in 2025. That included one epic 99-yard pick-six against the Chiefs.
Panthers fans should not expect that level of production every single year. But it does show just how much better Carolina's defense could be in 2026.
Grade: A
Luke Fortner – C
Cade Mays left Carolina for Detroit, creating a massive hole in the middle of the offensive line.
Fortner started 10 games for the Saints in 2025 after spending the first three years of his career with the Jaguars.
Ultimately it is hard to come by reliable talent at the center position, which makes this move at least solid. Fortner played well in 2025, but no good enough to land a long-term contract.
Perhaps Fortner could find a home in Carolina if he balls out in 2026. But if he doesn't, Carolina is free to part ways next offseason. So this is a win-win for the Panthers.
Grade: B
Rasheed Walker – T
The Panthers signed Walker to a one-year, $10 million contract several days in the free agency cycle.
Walker started 16 games at left tackle in Green Bay in 2025 and was expected to have a healthy market in free agency. When that market did not materialize, Walker opted for a one-year “prove it” deal in Carolina.
He may get that chance to prove his worth as early as Week 1.
Panthers left tackle Ikem Ekwonu suffered a knee injury during the team's playoff loss against the Rams back in January. He ruptured his patellar tendon on his right knee, an injury that could take some time to fully heal.
Carolina could start Walker at left tackle if Ekwonu isn't ready in Week 1, which is a very strong possibility.
This is a great move that guarantees stability on Carolina's o-line.
Grade: B
Stone Forsythe – T
Forsythe is another Ikem Ekwonu insurance policy.
The veteran tackle has started 27 games over the past five seasons split between Seattle and Las Vegas. He is a solid emergency option on the depth chart, giving the Panthers better tackle depth than most other teams.
Still, it is concerning to see how seriously Carolina is adding depth after Ekwonu's injury.
Grade: C
Kenny Pickett – QB
Pickett replaces Andy Dalton as the backup quarterback behind Bryce Young.
He did not impress in Las Vegas last season, only managing 188 passing yards with one touchdown and two interceptions in six games played.
The Panthers need a capable veteran behind Young in case of injury. Pickett technically checks that box, but it isn't easy to get excited about this signing.
Hopefully Carolina adds a developmental quarterback in the draft, too.
Grade: C-
John Metchie III – WR
Carolina took a chance on Metchie as wide receiver depth behind Tetairoa McMillan, Jalen Coker, and Xavier Legette.
Metchie's career started on a somber note with a Leukemia diagnosis that ended his rookie campaign. But Metchie bounced back since then, logging 73 receptions for 686 receiving yards and three touchdowns spread over the last four seasons.
The Panthers do not risk anything by adding Metchie on a one-year contract. But if he flashes some potential, he could stick around past 2026. That essentially makes him a low-risk, high-reward type of player.
Solid move to add depth.
Grade: B
AJ Dillon – RB
Dillon has faded into obscurity following an impressive run with the Packers. He missed the entire 2024 season with a neck injury. Dillon signed with the Eagles in 2025 but did not see the field that much.
Carolina in one of the most run-heavy teams in the NFL, which makes them a perfect landing spot for Dillon.
Chuba Hubbard should be the lead back with Jonathon Brooks, Trevor Etienne, and Dillon all vying for touches behind him.
If Dillon wants to get his NFL career back on track, he'll need to make some noise during the 2026 season.
Grade: B+
