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The Carolina Panthers couldn't close a deal with top free agent defensive lineman Milton Williams, as CBS Sports NFL insider Jonathan Jones reported Monday, with the Philadelphia Eagles standout pivoting to an agreement with the New England Patriots. Yet the Panthers didn't leave the first day of this year's free agent negotiating period without an up-and-coming defender, agreeing to terms on a $51 million deal with former Las Vegas Raiders safety Tre'von Moehrig, as NFL Media reported.

Moehrig's contract, which is worth up to $60 million thanks to incentives, makes him the NFL's fifth-highest-paid safety, per Over the Cap, with an average annual value of $17 million. That figure just clears the $16.75 million per-year mark set in the 2024 offseason by Xavier McKinney, who went from the New York Giants to the Green Bay Packers.

Ranked 22nd among CBS Sports senior columnist Pete Prisco's annual Top 100 free agent rankings, Moehrig is just one of three safeties to log at least five interceptions, five tackles for loss and 15 pass breakups over the last two seasons, as Garrett Podell noted. The TCU product totaled a career-high 104 tackles and 10 pass deflections in 2024, his fourth year with the Raiders.

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Moehrig isn't the only notable name to command big bucks in the Panthers' secondary, after Carolina extended cornerback Jaycee Horn on a four-year, $100 million extension earlier Monday. The newcomer figures to replace veteran safety Xavier Woods, whose contract officially expires on Wednesday.