The Devin Lloyd Contract Keeps Getting Better

Lloyd earned second-team all-pro in 2025 because of how well he did on coverage, recording five interceptions on the season, which was tied for second in the league, and seven passes defended.

Lloyd also scored one touchdown on the season, on one of the most impressive plays of the season, picking off Patrick Mahomes for a 99-yard pick-six, leading to a Jaguars win. 

Through the first five or six weeks of the season, Lloyd was a frontrunner for defensive player of the year, and while he didn’t end up winning the award, he set himself up to find a new deal this offseason and find a new home. Another metric showing how great Lloyd was in 2025: he finished the season with an 89.1 PFF grade, the third-best in the NFL among linebackers.

After the season, the Jaguars decided not to exercise Lloyds fifth year option, making him an unrestricted free agent. Before free agency started, Lloyd was projected to land a deal in the $20 million per year range. His contract with the Panthers was somehow lower than that, and now it looks even better than it did when the initial report came out. 

Carolina Signed Devin Lloyd on a Budget

It was originally reported that Lloyd signed with the Panthers on a 3-year, $45 million deal, but new reports now show it’s not even $45 million. The Athletic’s Panthers reporter Joseph Person released new information on Lloyd’s deal, and shows that it’s even more team-friendly than it seemed.

The Devin Lloyd contract was slightly smaller than originally reported, with the total potential value at $41.9 million instead of $45 million. This means Lloyd's yearly salary is around $13.9 million, down from $15 million. This is remarkable for the Panthers, considering Lloyd really should have gotten around $18-$20 million per year based on last season.

This also makes the Jaelan Phillips signing even better, cause while the Panthers did overpay for Phillips, signing a second-team all-pro linebacker to an under-$15 million-per-year deal makes up for it. The Panthers struggled mightily when it comes to their linebackers in coverage, but with Lloyd now on the roster, the defense has a leader, and has elite talent on all three levels.