CHARLOTTE, N.C. – The Carolina Panthers rewarded running back Chuba Hubbard with a four-year contract extension through 2028 on Thursday.

According to a league source, the deal is worth $33 million with a maximum value of $37.2 million and $15 million in new, fully guaranteed dollars.

The move is part of general manager Dan Morgan’s plan to retain core players while rebuilding a roster that has seen the organization endure six straight losing seasons.

The deal was announced less than 24 hours after the Panthers activated second-round pick Jonathon Brooks to the 53-man roster.

After the draft, there was speculation that the former Texas running back would replace Hubbard once the rookie fully recovered from ACL surgery last November. The new contract demonstrates coach Dave Canales’ commitment to running, which uses multiple defenders.

Hubbard is fifth in the NFL in rushing with 665 yards and 10th in rushing first downs with 33. He has a team-leading six touchdowns. He is sixth on Carolina’s all-time rushing list with 2,645 yards.

Hubbard, selected in the fourth round of the 2021 draft, would have been a free agent after the season.

The Panthers – 2-7 heading into Sunday’s game against the New York Giants in Munich, Germany – are expected to try to extend the contract of cornerback Jaycee Horn, a key defensive player.