Steelers 2013 Salary Cap Update: Three Restructures Down, One To Go?

Three contract restructures down and possibly one more to go for the Pittsburgh Steelers. On Thursday quarterback Ben Roethlisberger became the third player to have his contract restructured which resulted in $6 million in 2013 cap space being cleared.

With the restructures of Roethlisberger, wide receiver Antonio Brown and linebacker Lawrence Timmons now out of the way the Steelers have cleared $14,423,750 in cap space in the last three days

The Rule of 51 number now sits at roughly 121,478,706.00, which is $1,521,294.00 under an estimated $123 million cap number. The Steelers also reportedly have a $1.4 million cap credit in addition, which if used, would put them $2,921,294.00 underneath an estimated $123 million cap number.

The Steelers will need $4.815 worth of cap space after displacement if they are intending to tender Emmanuel Sanders, Jonathan Dwyer, Isaac Redman, Steve McLendon, Stevenson Sylvester, Baron Batch and DeMarcus Van Dyke at the lowest allowable amounts. Batch and Van Dyke are exclusive rights free agents while the other five players are restricted free agents. Should that be their intentions they will need to clear roughly another $1,893,706.00 in cap space to allow for that.

Wednesday reports indicated that the team is also intending to restructure linebacker LaMarr Woodley, which would clear as much as $6.1875 million in additional cap space. Should that full restructure take place the Steelers would be roughly $4,293,794 under a $123 million cap number with four restructures done and seven free agents (5 restricted, 2 exclusive rights) tendered.

The Steelers 2013 rookie draft pool is estimated to be roughly $4.7. That would leave them needing to clear roughly another $406,206.00 in cap space by the time draft picks are all signed. At this point they would need to clear any additional cap money to accommodate any free agents, including their own, that they wish to sign. They also will need a buffer of at least three or more million to accommodate needs that might arise during the season.

You can follow the Steelers 2013 salary numbers at the link provided and I will continue posting these updates after any move is made moving forward.

  • Chris Ranieri

    What was the deal with Marquise Maze? Definitely was a standout at UA. Surprised he couldn’t make a decent contribution in the league. Any predictions on his future, if any?

  • Mike Carroll

    Dave, does the rookie draft pool estimate of $4.7M factor in roster displacement?

    It seems to me the $4.7M estimate is actually the total cap space alotted to the team, and therefore the cap cost above displacement is only somewhere around $1.9M.

    Also, does the team really need to have the cap space cleared on draft day? Or, simply on the day they sign each player?

  • Dennis Nevinsky

    If we are $2,921,994 under the cap and we reduce it by 6,118,750 with a Lamar Woodley restucture, how do we only end up $4,293,794 under the cap?

  • SteelersDepot

    AFTER the expected tenders my friend. Re-read the post.

  • SteelersDepot

    You missed the word, “roughly”, didn’t you?

  • Mike Carroll

    I thought it was a fairly straightfoward question that I hoped to confirm by asking you. If my thinking is correct, I would say a difference of $2.8M is a large consideration given the Steelers cap situation.

  • Jake

    I thought it was a fairly straightforward question as well. Good thing Dave is not a teacher because his students would not be able to ask questions

  • SteelersDepot

    The minimum base salary of a draft pick counts against the cap, if in the top 51, once a player is drafted. Once a draft pick signs his deal, then the full cap hit enters the rule of 51.

  • Mike Carroll

    Thanks for the explanation.

  • Mike Carroll

    OK, for anyone interested, I have since confirmed the team will need about $1.867M in cap space above the displaced bottom 7 contracts (all league minimum $405,000 contracts as roster stands today) to sign the new draft class based on the $4.7 draft pool estimate. Although I hear that the final salary cap number may affect the pool estimate a little bit. And I believe any compensatory pick would need to factored in as well.

  • SteelersDepot

    That’s why I said, “roughly”. Too many unknowns to pin down an actual amount. 😉

  • SteelersDepot

    I leave teaching to teachers. No way I could be around kids. Too many germs and very irritating.