Steelers Awarded Three 2012 7th Round Compensatory Draft Picks

Surprise, surprise, surprise! The 2012 compensatory draft picks were doled out today at the NFL owners meetings and the Pittsburgh Steelers received three 7th round compensatory picks for the loss of tight end Matt Spaeth, defensive tackle Nick Eason and linebacker Keyaron Fox presumably. As I posted early this morning it was looking like the Steelers would only receive one 7th round pick for the loss of Spaeth, who signed a three-year, $5.975 million contract with the Chicago Bears and played nearly 370 snaps. Eason signed a two-year, $1.95 million contract with the Arizona Cardinals and played nearly 260 snaps, while Fox signed a one-year, $810,000 contract with the Washington Redskins and played just over 50 snaps on defense.

The compensatory formula has never been cracked officially as it takes into account the signing and loss of unrestricted free agents from the previous offseason. The formula also takes into account player\’s salary, playing time, and postseason honors with his new team, with salary being the primary factor. It would be great to know the exact formula, but all that really matters today is that the Steelers received three of them and they will be the 33rd, 39th and 41st picks in the 7th round which translates to the 240th, 246th, 248th picks overall.

Compensatory picks can\’t be traded, but the Steelers certainly could trade their original 7th round pick should they decide to. The Steelers were not awarded any compensatory draft picks last offseason, but they did receive three compensatory picks prior to the 2010 draft for the loss of quarterback Byron Leftwich, wide receiver Nate Washington and cornerback Bryant McFadden as unrestricted free agents following the 2008 season. Those picks awarded were two fifth round picks and one seventh round pick.

  • Bleebo77

    I’m not complaining, but what’s the real value of these picks? The Steelers won’t have a ton of roster spots up for grabs, right? It seems like it’s almost like the chance to draft some guys who they otherwise would have pursued as UDFAs, which is a nice luxury. And there are always those USFAs who stick… like Saunders, Clay, Legursky, Foster, etc. I guess you draft some “upside” guys who can hope to make the practice squad to develop. I guess you’re happy if 1 or 2 pan out.

  • SteelersDepot

    The value lays in the fact you do not have to bid against other teams for a few undrafted free agent types you may have your eyes on.

  • Stan

    You also have some extra late round picks (your own, that is) to throw around if you want to trade up in the 3rd and 4th round area. I believe the Steelers 7th is enough to move up 10-20 spots in the 3rd round if a player they want is available.

  • LOC

    Using common draft value charts the value of that pick is barely enough to move up 10 slots in the 6th….

  • Joe D

    3 more 7th rounders…
    oh boy…
    lucky if they make the practice squad…

  • Randy Steele

    Given that Spaeth was originally drafted in the third round, I was a little bit surprised that he didn’t net the Steelers a higher pick than a seventh.

  • SteelersDepot

    Where a player was originally drafted does not factor into the formula to my understanding.

  • Jprankster2005

    Well 10 picks then they should get all the players they need and some undrafted one’s to….. I wish we could of resigned Spaeth I think maybe they should look at Dallas Clark and try to sign him that’s if he’s still available……. Did we have to give any picks up I don’t think we signed anyone from another team last yr…..

  • Jprankster2005

    Steelers Depot do you see the Steelers going after any FA’s on the market right now? And there some sites saying they have 8 million others saying they have 5.5 million cap space how much cap space do they have and is that including the 5 million they should put aside for the draft which would actually have them between 500,000 and 3 million after the draft picks…. Because if they only have a million or a few million how would they resign Batch or Leftwich or any others……. This cap stuff get’s me confused maybe they should Reconstruct another contract or 2 maybe Heath or Harrison……

  • Jprankster2005

    Another question Steelers Depot they have been some that say Heath is a FA after this yr. well didn’t he just sign a 5 yr. deal a couple yrs. ago? and won’t be a FA til 2014

  • SteelersDepot

    Not sure where you got that info from, but I would not go back there. Miller is signed through the 2014 season.

  • SteelersDepot
  • Timothy Rea

    I wish they would release the formula because the way I’m reading this and in previous years is the rich get richer. Packers with 2 fourth rounders, cowboys with 1. Raiders with a 3rd for Asomughlabarfawhatever his name is.

  • John B

    good. i hope we find a kicker.

  • Jprankster2005

    I read it but that was from last yr. and alot of restructures happened since then do you have a total dollar amount that there over the cap by right now?

  • SteelersDepot

    You should re-read it all then as it does include all restructures & tenders.

  • Jprankster2005

    Ok I read it sorry didn’t scroll all the way down……So about 8 million before draft picks……..