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Thread: Steelers to restructure contracts ahead of Cap deadline

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    Steelers to restructure contracts ahead of Cap deadline

    Steelers working to restructure contracts ahead of cap deadline
    February 26, 2013 3:03 pm
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    By Ed Bouchette / Pittsburgh Post-Gazette
    The Steelers are working with agents to restructure some of their veteran players' contracts as they move to get under the NFL's salary cap as required by March 12.

    Among those they will restructure are Ben Roethlisberger and Lawrence Timmons, and both could be done before the end of this week. They may want to know if they'll have enough to try to sign free agent receiver Steve Breaston, who plans to visit their South Side facility Thursday or Friday.

    They also met with Bill Parise, the agent for James Harrison, at the NFL combine to discuss his contract situation.

    None of those whose contracts are restructured will lose money. The new deals do not add years to the players' contracts either, they merely are reworked for bookkeeping purposes to create salary cap room.

    Typically, they turn much of a players' 2013 salary into a bonus, which are pro-rated over the life of the contract for salary cap purposes.

    For example, Roethlisberger is signed for the next three seasons. His salary for 2013 is $11.6 million. To make it simple, they could take $9 million of that salary and put it into a bonus, spreading the cap hit at $3 million per year on the books. That would create $6 million in salary cap room with Roethlisberger, who would still receive $11.6 million this year.

    Same with Timmons, who has four years left on his contract. He is due a salary of $5.375 million this year. They could put $4 million of that into a bonus and save another $3 million in cap room this year.

    Harrison's case is different. He is due $6.57 million this year and $7.57 million in 2014. Conceivably, they could turn most of his salary in 2013 into a bonus and save some room. They also could be preparing to ask him, at age 35, to take a pay cut. Parise said while they met in Indianapolis, neither option was discussed but that they plan to meet again.

    Another likely candidate to restructure to create room is LaMarr Woodley, although they have not approched him yet. He has four years left on his contract with a $9 million salary scheduled for 2013. They could create approximately $6 million in cap space with him.

    Besides restructuring players' contracts, they also may release a veteran or two.


    First Published February 26, 2013 3:02 pm


    Read more: http://www.post-gazette.com/stories/...#ixzz2M2Q5Gq00

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    Hall of Famer Mister Pittsburgh's Avatar
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    Seems like they are just gonna keep kicking the can down the road so we have subpar teams for the next 5 years instead of cutting the fat at once. What a worthless article that is....it mentions turning salary this year into a bonus, but then doesn't show what their cap hit will be next year or the year after.
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    Quote Originally Posted by Mister Pittsburgh View Post
    Seems like they are just gonna keep kicking the can down the road so we have subpar teams for the next 5 years instead of cutting the fat at once. What a worthless article that is....it mentions turning salary this year into a bonus, but then doesn't show what their cap hit will be next year or the year after.

    roethlisberger and timmons make sense to restructure
    harrison, polomalu, keisel and clark need to take a serious paycut or be cut
    woodley just plain screweed us over. noway we should restructure him.
    cut colon

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    Pro Bowler pfelix73's Avatar
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    I agree with the way they are going about conducting business. Cutting all of them at the same time does not make sense.
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    Quote Originally Posted by Mister Pittsburgh View Post
    Seems like they are just gonna keep kicking the can down the road so we have subpar teams for the next 5 years instead of cutting the fat at once. What a worthless article that is....it mentions turning salary this year into a bonus, but then doesn't show what their cap hit will be next year or the year after.
    Sounds like our govt. Obviously, they still think they can field a contender with keeping a lot of what we got. I'm just glad there isn't any talk of bringing back FUMBLE-hall, Wall@ss or the special needs child (Hampton).

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    Quote Originally Posted by pfelix73 View Post
    I agree with the way they are going about conducting business. Cutting all of them at the same time does not make sense.
    hanging on the old, injury prone, non-producing , high priced vets doesnt either.

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    Why aren't they talking to Troy for a restructure, and by that, I mean a pay cut, not just moving $ around. When is the last season he played mostly healthy? And at what price tag? They better address that if they are serious about trying to get better. Or is Dicky too buddy buddy with him to go along with a pay cut?

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    Quote Originally Posted by pfelix73 View Post
    I agree with the way they are going about conducting business. Cutting all of them at the same time does not make sense.
    I agree. When you have a QB like Ben, I think you do what you can to keep the team around him competitive. The Steelers are typically good at avoiding dead money, so pushing some money back like this, while not ideal, is not the end of the world.

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    On Sirius yesterday they said Troy has missed 22 games in the last 4 years.

    Yup, just confirmed
    He missed 30 out of 160 games(1st season played in all 16)
    He misses 3 games per year over his career.
    Last edited by pittpete; 02-26-2013 at 07:06 PM.

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    Quote Originally Posted by pittpete View Post
    On Sirius yesterday they said Troy has missed 22 games in the last 4 years.

    Yup, just confirmed
    He missed 30 out of 160 games(1st season played in all 16)
    He misses 3 games per year over his career.
    beyond how many games he has outright worn sweatpants on the sideline, how many has he partially played in, or played at 75%?
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