With the negotiating period officially open, NFL free agency is in full swing. The Kansas City Chiefs immediately made a big splash by signing left tackle Jaylon Moore. They followed that up by signing running back Elijah Moore to a short-term deal. While GM Brett Veach was adding to the roster, the Chiefs also lost a few key free agents.
Before free agency started, the Chiefs re-signed one of their most important free agents, Nick Bolton, to a three-year, $45 million deal. They still have to come to terms with other key contributors like Justin Reid and Charles Omenihu. Further down the list of priorities for the front office was defensive lineman Tershawn Wharton.
Once the defensive tackle market was set with massive deals to Milton Williams, Poona Ford, and DJ Jones, it became obvious that the Chiefs wouldn't have the means to retain Wharton. Yet, the contract they received was surprising for even the most optimistic of Wharton fans.
NFL News: Panthers Sign DT Tershawn Wharton to 3-Year, $54 Million Deal
NFL Network's Mike Garafolo reported on Monday that Wharton signed with the Carolina Panthers on a three-year, $54 million deal that includes $30 million guaranteed. This would have ranked in the top 15 among all defensive tackles last season in terms of annual average salary.
While the former undrafted free agent is a very nice developmental story for the Chiefs and had an uptick in production last season, this is a massive overpay by the Panthers. Yes, Wharton played a career-high 62% of defensive snaps and finished with career highs of 6.5 sacks, 11 QB hits, and seven tackles for loss, but he still ranked as the 49th-best interior defender in the league per Pro Football Focus.
Before free agency, Spotrac projected that Wharton had a market value of $7.4 million in annual salary. A three-year, $22 million deal was considered to be fair. Considering the number of teams that were desperate for defensive tackle help, one could have seen this number go up to around $10 million per year. No one, including Wharton himself, presumably expected the offer Carolina made for him.
The Panthers, who lost the Milton Williams sweepstakes to the Patriots earlier in the day, likely didn't want to lose out on another FA target and broke the bank for Wharton. After surpassing Derrick Nnadi in the depth chart for the Chiefs, Wharton will continue his career as a surefire starter in Carolina from now on.