The Miami Dolphins didn't retain interim GM Champ Kelly this offseason, but his polarizing trade involving Jaelan Phillips around the NFL deadline sure looks like a masterstroke now.
New full-time Fins GM Jon-Eric Sullivan had one major dilemma off his plate before he even arrived in Miami. The Philadelphia Eagles took Phillips off the Dolphins' hands at the trade deadline for a third-round pick in a classic, daring Howie Roseman maneuver.
Unfortunately for Philly, Phillips opted not to stick around in the City of Brotherly Love, opting instead for a ginormous contract with the Carolina Panthers.
Jaelan Phillips never would've fit in the Miami Dolphins' long-term plans — especially on his Panthers price tag
As the Dolphins prepare to offload their exorbitant Tua Tagovailoa contract, their salary cap situation is in dreadful shape. That would've precluded them from committing to Philips as a core player as is.
To validate the Phillips trade even further, though, the Panthers shelled out a whopping $120 million on a four-year contract for the dynamic 26-year-old pass rusher, per ESPN's Adam Schefter. That includes $80 million in guaranteed money.
Phillips had stepped away from football in college due to injuries, only to return and dominate enough for Miami to select him with the 18th overall pick in 2021. However, the injury bug has bitten Phillips multiple times in the NFL, too, in the form of a torn ACL and a ruptured Achilles, among other ailments.
When he's healthy, there's no denying Phillips is a difference-maker. As long as he can stay on the field, Phillips is still young enough to live up to his deal in Carolina. That said, it's still a high-risk, high-reward splash by the Panthers.
You have to admire Carolina for taking a big swing here while quarterback Bryce Young approaches the latter stages of his rookie contract. It just feels a little desperate for a team with many roster flaws and limited cap space as is. OverTheCap.com lists the Panthers with less than $9 million in 2026 cap room as of this writing — before Phillips' huge contract is accounted for.
Time will tell if this is a move that elevates Carolina to another level or only creates more problems as Young's second contact comes up. Take it from the Dolphins, who know as well as anyone: You don't want to pay a QB without elite physical tools like a top-market player. Phillips' arrival in Charlotte is bound to complicate Young's future negotiations.
Sadly, the Fins had to lose one of the few strong, early-round draft picks of the Chris Grier era in Phillips. They simply had no choice given what Phillips' market proved to be.