Steelers Restructure Colon’s Contract
PITTSBURGH (KDKA) – The Pittsburgh Steelers are facing some tough decisions as they work to get under the salary cap.
On Tuesday, they reduced the amount they are over the cap to about $ 8 million after restructuring offensive tackle Willie Colon’s contract.
According to our news partners at the Pittsburgh Post-Gazette, the restructuring saves the Steelers $ 2.85 million against the cap.
The restructuring involved turning $ 3.8 million of Colon’s $ 4.5 million salary for the 2012 campaign into a bonus.
The bonus will be pro-rated over the remaining four years of the contract.
Colon has played in only one game over the last two seasons, but signed a five-year, $ 29 million deal in August.
Source: CBS Pittsburgh » Steelers