2026 NFL Free Agency: Devin Lloyd’s Contract Value and Best Fits

Contract Projection

According to Spotrac, Lloyd has a market value of $20.1 million per year. That annual salary would place him between Fred Warner ($21 mil/yr) and Roquan Smith ($20 mil/yr) as the league’s highest-paid off-ball linebackers. Based on age, contract status, and statistical production, Spotrac’s most comparable players to Lloyd are Warner, Jamien Sherwood ($15 mil/yr), Azeez Al-Shaair ($11.3/yr), and Tremaine Edmunds ($18 mil/yr).

Of the five names listed above, only Warner and Sherwood put pen to paper within the last calendar year. Veteran standouts Zach Baun ($17 mil/yr) and Nick Bolton ($15 mil/yr) were also inked in 2025.

Lloyd’s per-year contract figures may look closer to those of Baun and Bolton than Warner and Smith. PFF projects him to earn $16 million annually across three seasons.

A three-year investment makes sense because Lloyd’s contract-year stats dwarfed his previous production. Plus, despite not playing on a fifth-year option as a former 1st-round pick, he isn’t exactly young for someone seeking a second contract.

My best guess: Lloyd signs a three-year deal worth $54 million ($18 mil/yr) with a sizeable chunk of guaranteed money — say, $35 million — to offset the short-ish contract length. That’d be an appropriate amount of cash for a top 10 NFL linebacker in his prime without injury or character concerns. Though some will balk at the idea of paying near-top-of-market money for a non-premium position player, others will recognize Lloyd’s value in providing multiple answers against modern offenses. He can serve as a triple threat (blitz, run defense, pass coverage) from a variety of alignments.

Landing Spots

Jacksonville Jaguars: The best on-paper landing spot has to be where Lloyd developed into a top free agent in the first place. He played his best pro season in 2025 under former NFL LBs coach and current Jaguars defensive coordinator Anthony Campanile. Lloyd may be on the older side for a first-time free agent, but it’s fair to say he could grow further with Campanile. Jacksonville would have a massive hole at the position if Lloyd leaves, as the team is already considering succession plans for Foye Oluokun (turns 31 in August). Re-signing Lloyd could be the Jaguars’ top “win-now” move of the 2026 offseason.

Dallas Cowboys: The ’Boys recently waived linebacker Logan Wilson (whom they traded for last year (lmao)) to save some cash. Kenneth Murray and Jack Sanborn are also free agents. Linebacker is a need in Jerry World, and it’s easy to imagine the Joneses exaggerating Lloyd’s value. Thing is, whether intentional or not, they’d have a point… New defensive coordinator Christian Parker spent three of the past five seasons coaching defensive backs under the legendary Vic Fangio. The Cowboys are a popular landing spot in mock drafts for Ohio State linebacker Sonny Styles — who projects as an off-ball linebacker who can also rush the passer from an on-ball alignment — because Parker could deploy him the way Fangio uses Baun in Philadelphia. Maybe they should just sign Lloyd to do the same thing.

New York Giants: Like the Jaguars and the Cowboys, the Giants may not carry the requisite cap space to go big-game hunting for linebackers in free agency, but there have been rumblings that New York could reallocate resources after spending large to build a formidable defensive line. A restructure here and a trade there could free up enough room for the Giants to add Lloyd. They need bodies at the position, especially with veteran Bobby Okereke widely expected to be a cap casualty, and Lloyd would be a fun piece for new defensive coordinator Dennard Wilson. He has ties to the Mike Macdonald tree and recently called plays for the Tennessee Titans. Front offices are often swayed by how free agents performed against their own teams in the past; maybe Wilson will push for Lloyd after watching him play in person over the past two seasons.

Final Word

It was tough to find good landing spots for Lloyd. Even for teams with a need at linebacker, contenders could prioritize other positions, and rebuilders might prefer developmental projects or veteran voices over someone in the middle. Lloyd’s position and age put him in a bit of no man’s land.

The notion that this year’s draft class is particularly strong at linebacker does no favors for Lloyd’s market. The crop is strong at the top and has plenty of depth to allow for mid-to-late-round darts.

The writing has been on the wall for Lloyd to depart Jacksonville. His fifth-year option was declined, the current regime is not the same as the one that drafted him, and there have been zero rumors of any contract negotiations. Lloyd said in early February that he’d had “no talks” with the Jaguars about a new deal.

Here’s to hoping Lloyd gets the bag he deserves… somewhere in the NFC. In my opinion, his combination of athleticism and instincts is great, but not as special as his expected price tag would indicate. Let a different team make that overpay. I’d rather see if Campanile can work his magic with more cost-effective options.

Let us know your thoughts in the comments below!