Ahead of the trade deadline, it was clear the Panthers would not be willing to deal away Chuba Hubbard. The fourth-year running back was on track to reach free agency this offseason, but that is no longer the case. 
Hubbard and the Panthers have agreed to a four-year extension, Ian Rapoport of NFL Network reports. The deal (which is now official) has a base value of $33.2MM, but it can increase by $5MM through incentives. In terms of guaranteed compensation, Hubbard will receive $15MM fully locked in.
The Athletic’s Joe Person predicted on Thursday that Hubbard would translate his 2024 campaign, on track to be the best of his career, into a new contract before the end of the year (subscription required). That has proven to be accurate, and the 25-year-old Canadian will now be on the books through 2028. Hubbard has handled RB1 duties for much of the past two seasons despite the presence of Miles Sanders, and his 14.8 carries per game are slightly higher than last year’s workload. He is averaging 5.0 yards per attempt in 2024, the best mark of his career.
After Christian McCaffrey was traded away midway through the 2022 campaign, the door opened for other Panthers to take on a larger workload in the backfield. Hubbard has been the primary beneficiary of that move, and the Oklahoma State product topped 1,100 scrimmage yards while rushing for five touchdowns last year. Hubbard has already matched the latter figure through nine games this season, and he is comfortably on pace reach 1,000 yards on the ground for the first time in 2024.
Sanders landed a four-year, $25.4MM deal on the open market last offseason, leading to high expectations with Carolina. He has not managed to live up to them so far, though, and Hubbard’s success has relegated the former Eagle to a minor role on offense. That could especially be true moving forward with second-round rookie Jonathon Brooks now healthy. None of Sanders’ base salaries for 2025 or ’26 are guaranteed, making him a logical cut candidate for the upcoming offseason.
With a base value of $8.3MM per season, Hubbard’s pact places him ninth amongst running backs in terms of annual average value. The former fourth-rounder will be expected to continue delivering in the backfield now and in the future as the Panthers sort out their quarterback situation. Bryce Young‘s tenure with the franchise beyond 2024 remains uncertain, but stability in the backfield will be welcomed.
It will be interesting to see how the Hubbard-Brooks tandem takes shape now that both are in the picture. Brooks will be attached to his rookie contract through 2027, so for several years the Panthers’ situation at the running back spot appears to be settled.
Why trade up to draft Brooks and then give Hubbard this big extension? Doesn’t make sense…
Lions extended Montgomery after Gibbs’ rookie year, so they aren’t the first to lock in a rookie contract/second contract tandem. And Brooks has taken longer to see the field than anticipated, so maybe it’s a bit of a hedge. Joe Person, the Athletic’s beat writer for Carolina, also wrote “Dave Canales loves his work ethic and sees Hubbard as a vital piece in establishing the type of culture Canales wants to build.” So I guess that only adds to the Montgomery parallel.
I think character also matters in building a winning and positive culture within the team. Hubbard seems like a good head on his shoulders and won’t cause any issues for anyone on the coaching staff or in the huddle. Sometimes it’s the moves that you don’t anticipate happening that work out the best for most teams.
Setting aside he’s been one of the few (only?) bright spots for this year’s Panthers. Brooks is on a rookie contract and hasn’t actually even played an NFL snap yet, so the tandem gives them cost certainty and options to hedge against the inevitable weekly dings and full scale injuries that always happen to RB. What doesn’t make sense is that people still think you only need one player at each position in the modern NFL. 49ers routinely need a 5th string RB to keep their season alive. You’re already starting to hear whispers about preserving Derrick Henry and getting less touches to lesser backs like Pollard. The 3-down workhorse back has been dead for a while now and even the outliers are starting to be affected.
Those are good points. Montgomery and Gibbs is a great comparison.
Not a bad idea to lock him up while he’s still relatively cheap and effective. For a team that is dying to possess any kind of offensive/defensive talent, this was a no brainer. Plus they do have some cap space so this won’t hurt them for future cap implications.
Does this make him the highest paid Canadian in NFL history?