Tag Archives: million

Steelers Salary Cap Figure over $3 Million, 27th in the NFL

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Much ado was made of the Steelers salary cap predicament this offseason, but after several releases, contract restructuring and even a free agent signing or two, a source cited by NFL.com lists the Steelers as having $ 3,734,063 in cap space for the 2012 season.

That figure ranks 27th in the NFL in terms of total availability. Certainly, though $ 3.7 million is enough to take their current roster into the season, with the ability to sign other players in the case of injury.

It does provide some clarity into the No. 1 topic this offseason, WR Mike Wallace’s negotiation.

This number represents a position that even with an extension, Wallace is not going to make significant money this season. With the amount of money the Steelers have guaranteed through the form of contract restructures with several players, it’s highly unlikely they’d ask anyone else to restructure their contract for the sake of giving Wallace a big signing bonus in 2012.

It does show, however, some complication behind the potential release of OT Jonathan Scott, particularly if the goal is to add Max Starks back to the roster.

The release of Scott has been something called for often by readers of BTSC. The addition of Mike Adams through the draft, and positive reports of Starks’ rehabilitation from a torn ACL suffered in January, suggests it’s more likely than not Scott makes the roster this season.

Assuming Starks would take a veteran minimum deal this season, Scott’s $ 2 million plus Starks’ contract would be more costly than just signing Starks and keeping Scott on the roster.

That would cost a roster spot, but at the same time, keeping a veteran like Scott around helps push a rookie like Adams. Even if Adams is named the starting left tackle, experienced players behind him will push him to earn and continue to earn that position.

Starks would be the back-up left tackle, most likely, and Scott would back-up Marcus Gilbert at right tackle.

(nod to SteelerAddicts for pointing this one out)

Source: Behind the Steel Curtain

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Report: Jerricho Cotchery Two Year Deal Worth $3 Million

Immediately after it was announced that the Pittsburgh Steelers had signed unrestricted free agent wide receiver Jerricho Cotchery to a two year deal I speculated on Twitter that I would be surprsiede if the contract totaled out over $ 3 million. Ed Bouchette tweets tonight that the deal does indeed total out at $ 3 million.

Will be surprised if Cotchery two-year deal totals out over $ 3 million. Signing bonus will be key number. 1 million maybe at tops. #steelers— Steelers Depot (@Steelersdepot) April 11, 2012

#steelers get Cotchery for $ 3M over 2 years.— Ed Bouchette (@EdBouchette) Read more […]

Source: Yardbarker: Pittsburgh Steelers

Hampton gives Steelers more than $3 million in cap space

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When the Steelers embarked on their cap-slashing exercise earlier this year, nose tackle Casey Hampton was at the top of the list.  Unlike one of the various players who restructured contracts and ultimately gave up no money (and unlike Hines Ward who was cut without negotiation), Hampton took a significant pay cut in order to…

Source: ProFootballTalk » Pittsburgh Steelers

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NFL Salary Cap Set at $120.6 Million, Steelers $12-14 Million Under Before Free Agency, Draft

In this photo made Nov. 13, 2011, Pittsburgh Steelers wide receiver Jerricho Cotchery catches a pass against the Cincinnati Bengals in the first half of an NFL football game, in Cincinnati. Cotchery made an impact in his first extended playing time with the Steelers, catching a touchdown in a 24-17 win over Cincinnati. (AP Photo/Tony Tribble, File)

The NFL announced Sunday the Salary Cap for the 2012 season is $ 120.6 million, up $ 225,000 from last season. All 32 teams must be under that mark by 4 p.m. ET Tuesday, which is the beginning of the unrestricted free agency period.

Several releases and contract restructures by the Steelers and multiple players have gotten them to a relatively thin amount under the cap, considering tender offers needing to be made to their restricted free agents, as well as the signing of their draft class.

A total of about $ 9 million looks to go to Pittsburgh’s restricted free agents, most notably, WR Mike Wallace. He will receive the highest RFA tender, and barring a long-term contract extension, Wallace’s cap number will be $ 2.742 million. Gs Doug Legursky and Ramon Foster, FS Ryan Mundy, TE David Johnson and CB Keenan Lewis all will receive original round tenders, meaning, if another team were to sign any of those players to an offer sheet, and the Steelers elect not to match it, the Steelers would receive the team’s selection in the round that player was drafted originally. The restricted free agency period begins March 17.

Jim Wexell of Steel City Insider estimates the Steelers will spend another $ 4.45 million on its draft class.

Squirrel away a few more bucks for in-season replacement signings, the Steelers will have to take an “aim small, miss small” approach in free agency. It’s not impossible to re-sign WR Jerricho Cotchery, and with the possible departure of Wallace, it, in fact, seems likely. If Wallace was to be signed somewhere else, and assuming the Steelers won’t make any immediate moves on unrestricted free agents, they would have the $ 2.742 million slotted for Wallace available. Not all of that would go toward Cotchery, but he clearly would become a priority. If Wallace leaves, the Steelers would have two wide receivers on their roster – Antonio Brown and Emmanuel Sanders.

A better option, though, would be to lower Wallace’s cap number by signing him to a long-term deal. Spacing guaranteed money out beyond this season and into a four or five year contract could give them the savings needed to keep Cotchery as well as even pursue an affordable nose tackle or offensive guard – two positions needing depth in 2012.

Veteran OT Jonathan Scott and LB Larry Foote would likely be the next up in terms of contracts to renegotiate should the Steelers find themselves in dire straits, but with four days between unrestricted free agency and the start of the restricted free agency period, Pittsburgh can see how the wide receiver market – which includes big names such as Vincent Jackson, Brandon Lloyd and Marques Colston – fairs around the league.

Source: Behind the Steel Curtain

NFL sets salary cap at $120.6 million

The league informed the 32 teams Sunday that the cap has gone up by $ 225,000. All teams must be under the cap by Tuesday, when free agency begins.

Source: Pittsburgh Tribune-Review

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Steelers Shave $8 Million From Salary Cap With Restructured Roethlisberger Contract

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Local journalists and lowly internet hacks have never typed the word “restructure” as often as those covering the Steelers have this offseason.

This time, as expected, QB Ben Roethlisberger reportedly has agreed to restructure his contract, thus saving the Steelers $ 8 million against the salary cap this season.

Roethlisberger joins OT Willie Colon, CB Ike Taylor and LBs LaMarr Woodley and Lawrence Timmons on Team Restructure, and in total, it’s saved Pittsburgh over $ 29 million.

It seems likely at this point the Steelers will be at or right around the salary cap for the team’s top 51 contracts, which needs to happen by March 13. It’s still up in the air if other moves, likely releases of a few players (notably LG Chris Kemoeatu) could free up a bit more cash to re-sign WR Mike Wallace, an impending restricted free agent, to a long-term deal.

Short of a long-term extension, the Steelers could either place the high level RFA tender on Wallace, making a team surrender their original first-round draft pick if they sign him to an offer sheet the Steelers choose not to match, or they could use a franchise tag on him, which would require another team to give up two first-round draft picks to sign him.

In turn, the Steelers would guarantee Wallace a one-year, $ 2.7 million (approximate) contract under RFA, or a one-year, $ 9.6 million (approximate) contract with the franchise tag.

A long-term deal wouldn’t hit the cap nearly as hard, as the Steelers would be able to spread money over the multiple years of the contract. Wallace would get more money in the end as well.

Source: Behind the Steel Curtain

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Restructuring of OT Willie Colon’s Contract Saves $2.85 Million


News broke out Tuesday morning of OT Willie Colon’s willingness to prorate $ 3.8 million of the $ 4.5 million he’s owed in 2012 over the remaining four years of his deal. Saving the team another $ 2.85 million against its 2012 salary cap is good progress, but there’s still $ 5-6 million to go, according to Football Outsider writer Brian McIntyre.

The total savings created so far this off-season through player releases and contract restructures is around $ 18 million – but freeing up $ 5-6 million more would only reach the estimated 2012 salary cap. The total savings figure the Steelers are aiming for will include all restricted free agent tenders, rookie contracts and a cash fund for in-season transactions.

And all of that is before a possible franchise tag for WR Mike Wallace. With that looming as a possibility, the Steelers still have a lot of work to do to get to the cap point they’ll need to field the strongest team they can.

Reports have circulated that QB Ben Roethlisberger and OLB James Harrison are in discussions for contract restructures as well. Roethlisberger seems the most likely, considering how often he’s stated his desire to win ahead of individual accolades. If that’s the case, he’d help his team’s cause by having the Steelers tack on another year or two to his current deal, and then spreading money from this season across the full duration just like the other restructures.

Harrison may be a tougher bet, considering he restructured last season. But incidentally, restructuring did make his one-game suspension cost far less than it would have been otherwise.

The top 51 contracts on each team must be below the salary cap by 4 p.m. ET March 13. This may go down to the wire, but it seems like the Steelers have a plan in place and are sticking to it.

Source: Behind the Steel Curtain

Steelers clear $11.7 million with Timmons, Woodley restructurings

On Thursday, MDS pointed out that the Steelers have begun chipping away at a $ 25 million cap bulge by restructuring the contracts of linebackers LaMarr Woodley and Lawrence Timmons. A league source has supplied the specifics to PFT. As to Woodley, his 2012 cap number has dropped from $ 11.5 million to $ 4.94 million, creating $ 6.56…

Source: ProFootballTalk » Pittsburgh Steelers

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