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

The deal is worth $33 million, with a cap value of $37.2 million and $15 million in new fully guaranteed dollars, according to a league source.

Hubbard said this moment is what he has been working for his entire life.

“It definitely takes a load off me,” Hubbard said. “I’ve always wanted to take care of my family for life. … Ultimately, I want to be great. I want to be a Panther for life.”

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 Jonathon Brooks to the 53-man roster in the second round.

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 shows coach Dave Canales’ commitment to the running game that will see the use of multiple backs.

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.

Panthers offensive coordinator Brad Idzik said Hubbard “embodies a lot of what we want to do here, culturally and on the offensive side.” Idzik isn’t concerned about Hubbard teaming up with Brooks.

“We just see another good defender to add to the group and Chuba will do a great job taking the lead.” he said.

Idzik recalled that as a 22-year-old graduate assistant at Stanford, he was accused of scouring the Internet for players with good grades. He saw Hubbard, who eventually signed with Oklahoma State, “just playing truck drivers” in Canada.

Carolina defensive coordinator Ejiro Evero said Hubbard’s extension was not only great for the offense, but also “great for our team.”

“This man embodies what you look for in a football player and a teammate,” he said. “He’s a great guy in the locker room. He does things the right way. He’s arguably, probably not even debatably, the hardest worker on our team.

“I mean, this man is ruthless in what he does and in his approach.”

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