Report: Steelers Restructure Contract Of Ike Taylor
The Pittsburgh Steelers continue the contract restructures of several players as they continue to make progress towards getting under the salary cap by the start of the new league year in March. The latest to restructure according to Pro Football Talk is cornerback Ike Taylor, who just signed a new 4-year contract last offseason. The Steelers reportedly turned $4.925 million of his $5.75 base salary in 2012 into a signing bonus and stretched it over the remaining 3 years of the contract. This move lowers the $7.5625 million cap hit that Taylor was supposed to count in 2012 down to $4.279 million, which is a savings of $3.283 million in 2012.
This makes the third such player that the Steelers have restructured since the offseason started as linebackers LaMarr Woodley and Lawrence Timmons both had their contracts restructured recently. When you combine all of the restructures that have been done with the recent release of Bryant McFadden and Arnaz Battle, the Steelers have now trimmed off over $18 million off of their 2012 salary cap. We expect to hear about a few more restructures before March as well.