Ben Re-Structures..

[Chadman]

According to Adam Schefter Ben has restructured his contract, saving close to $8 million.

This should put the Steelers bang on, from Chadman's calculations. Every player cut or restructured from here puts the Steelers under the cap.

[Jooser]

Re: Ben Re-Structures..

Great news.

[steelblood]

Re: Ben Re-Structures..

I hope we don't cut players now to assign Wallace the franchise tag.

[NJ-STEELER]

Re: Ben Re-Structures..

great news

a couple of simple cuts (smith, hines maybe casey) and we'll be under the cap

[Slapstick]

Re: Ben Re-Structures..

If this puts the Steelers at or very near the cap, they will wait to see what the final cap number will be before any further cuts...

[steelz09]

Re: Ben Re-Structures..

When will Kemo get the boot?

Aaron Smith is a given. Chris Hoke is retiring ... (is that cap # savings counted)? Foote or Farrior is going to be gone.

[Oviedo]

Re: Ben Re-Structures..

Remember, this dril is not just about getting to the cap number it is about getting below it far enough you can tender your restricted free agents, sign your draft picks, etc.

IMO they need to do a whole bunch more cutting and go much deeper than the few players being mentioned if they are going to have any flexibility at all. Bad news doesn't get better with age so get out the axe and just get it done. Good bye Aaron, Hines Kemo, Farrior, Foote, etc. Try to get one or two back at a significant discount but quit dragging this out.

[RuthlessBurgher]

Re: Ben Re-Structures..

When will Kemo get the boot?

They may try to wait until June 1st (if they can).

He got a $6 million signing bonus on a 5 year deal, so that is prorated over the length of the contract ($1.2 million per year).

His base salary for 2012 is scheduled to be $3.577 (cap hit: $4.777...base salary + prorated portion of his S.B.). His base salary for 2013 is scheduled to be $4.181 (cap hit: $5.381).

If we cut him now, we'd save his $3.577 million salary, but the rest of the pro-rated S.B. would accelerate to the present, so he'd count $2.4 million worth of dead money against the cap (cap savings if we cut him now: $1.177).

If we waited until after June 1 to cut him, we'd save his $3.577 million salary, and the dead money would be split between the 2012 cap and the 2013 cap (savings on this year's cap if we cut him after June 1: $2.377...but he would also count $1.2 million against the following year's cap as well).

[JUST-PLAIN-NASTY]

Re: Ben Re-Structures..

Guys...the cuts are coming regardless. Don't think the cuts are coming just to get Wallace in. They are coming because the players are done. If Wallace was still under contract they would be on the outs. It is all about their lack of performance and being overpaid.

[phillyesq]

Re: Ben Re-Structures..

Remember, this dril is not just about getting to the cap number it is about getting below it far enough you can tender your restricted free agents, sign your draft picks, etc.

IMO they need to do a whole bunch more cutting and go much deeper than the few players being mentioned if they are going to have any flexibility at all. Bad news doesn't get better with age so get out the axe and just get it done. Good bye Aaron, Hines Kemo, Farrior, Foote, etc. Try to get one or two back at a significant discount but quit dragging this out.

Your point is well taken. Steelers have a lot of work to do just in order to be able to tender their own RFAs.

However, I think Ruthless is right -- they might wait on some of these cuts to do them post June 1.

[RuthlessBurgher]

Re: Ben Re-Structures..

They'll likely restructure or cut who they have to within the next week and a half or so in order to deal with the Mike Wallace situation as they deem appropriate (frankly, I hope they just sign him to a long term deal sooner rather than later, so we don't have to worry about any RFA/franchise tag/possible compensation drama).

The last round of post-June 1 cuts will be to free up enough money to sign our draft picks.

[Lebsteel]

Re: Ben Re-Structures..

The more I consider, the more I like tendering Wallace with a first round pick and having a team in the low to mid 20's take him. If the Bungals made a play for him, would that be that bad? We'd take their 21st pick and take Cordy Glenn and then with our 24th pick we could take Donta Hightower.

I've also read that the Texans may be interested in Wallace, so that would give us their 26th pick and we could still possibly get Glenn and Hightower filling our two top needs at LG and ILB.

If either scenario happens, I'd like to see us re-sign Cotchery as our No. 2 or 3 receiver and grab a receiver like Rueben Randle (6'3" 208lbs.) in Rd. 2.

I agree with you all that Smith, Farrior, Ward etc. need to be cut or retire. It hurts to say that, but it must happen.

[pfelix73]

Re: Ben Re-Structures..

Don't be surprised if they keep Kemo around. They can restructure his contract and give him a pay decrease. Maybe they would cut him then and resign him to a lower contract. This is something Buchette was talking about this morning and he's pretty good knowing the Steelers pulse and the FO. He said that Kemo's agent must have hinted at this possibility- Kemo is willing to stay for less pay- supposedly.. Don't kill the messenger- just sayin'- But if you think about it, why not keep him around even if its just for depth or he could even work his way back into the starting lineup.

[steeler_fan_in_t.o.]

Re: Ben Re-Structures..

When will Kemo get the boot?

They may try to wait until June 1st (if they can).

He got a $6 million signing bonus on a 5 year deal, so that is prorated over the length of the contract ($1.2 million per year).

His base salary for 2012 is scheduled to be $3.577 (cap hit: $4.777...base salary + prorated portion of his S.B.). His base salary for 2013 is scheduled to be $4.181 (cap hit: $5.381).

If we cut him now, we'd save his $3.577 million salary, but the rest of the pro-rated S.B. would accelerate to the present, so he'd count $2.4 million worth of dead money against the cap (cap savings if we cut him now: $1.177).

If we waited until after June 1 to cut him, we'd save his $3.577 million salary, and the dead money would be split between the 2012 cap and the 2013 cap (savings on this year's cap if we cut him after June 1: $2.377...but he would also count $1.2 million against the following year's cap as well).

Right in theory, but your numbers are off because you are double counting his 2012 portion of his SB.

If he is cut after June 1 then he counts $1.2M against the cap - which is already accounted for, so savings are a full $3.577M.

If cut prior to June 1, we save $3.577M, but we have to count his 2013 SB of $1.2M and this year's which is already counted, so savings = $2.377M

[hawaiiansteel]

Re: Ben Re-Structures..

THURSDAY, FEBRUARY 23, 2012

News of the day


Kevin Colbert spoke to the media in Indianpolis Thursday regarding the Steelers cap situation - which was getting better as he was speaking.

The team restructured the contract of Ben Roethlisberger to free up a little more than $8 million in cap space, putting the Steelers right around where they need to be heading into free agency.

The league hasn't officially told teams what the cap will be, so the moves they have made thus far have been to put them in the ballpark.

Of course, to begin tendering their restricted free agents, more restructuring and cuts will be coming, something Colbert acknowledged today.

"We’ve already done some restructurings," Colbert said. "We know we’re going to have to do more. We know we’re going to have to terminate players. We just don’t know what combination or how much restructuring we have left."

Colbert said the team is confident it will be able to keep wide receiver Mike Wallace, who will be a restricted free agent.

The Steelers likely won't put the franchise tag on Wallace, but they will have the first right of refusal on any contract offer he might receive. Given how creative they have already been getting to the cap, it's likely he's right.

Colbert also said he doesn't expect running back Rashard Mendenhall to be placed on season-ending IR or to be released. Colbert expects Mendenhall to contribute in some manner in 2012 despite suffering a torn ACL in the final regular season game.

Colbert was also confident that nose tackle Casey Hampton will fully recover from his torn ACL - his third - and be ready to go at the start of the season.

"You don’t have to worry about speed," Colbert said. "You don’t have to worry about the quick change of direction when you’re talking about the offensive and defensive linemen. The one edge Casey will have on anybody is he’s been through this twice and he knows what to expect and he knows how he’s going to feel at a certain point when he feels he’s healthy."

posted by Dale Lolley

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