He reported on twitter that Foote is in talks with the Steelers. Apparently, on the radio this morning, Foote said his agent has been talking with the Steelers and that it's apparently a money issue at this point.

I would like to see Foote come back on a qualified veteran contract (900k or whatever the minimum is, and it counts less against the cap) to provide an option at ILB, but I wouldn't want to see him paid at the level he was this season.

Whether Spence or perhaps another young player, I think that Foote has value as a mentor.