Categorized | 2013 Salary Cap, Article, News

Report William Gay Contract Worth $4.5 Million


Gerry Dulac of the Pittsburgh Post-Gazette reports via Twitter that the three year contract signed by Monday by cornerback William Gay is worth $4.5 million with a $500,000 signing bonus.

I am assuming that Dulac is counting the signing bonus in with the $4.5 million. While we do not know the exact breakdown of the contract, I am going to venture to guess that the base salaries are $750,000, $1,250,000 and $2,000,000.

If the above holds true, that would put the 2013 cap hit for Gay at $916,666.66. In 2014 it would be $1,416,666.66 and in 2015 it would be $2,166,666.66.

Should the team decide to release Gay after the 2013 season, then his dead money charge in 2014 would be $333,333.33.

I will update this post should the structure be different than what I have outlined, but it sounds about right.

UPDATE BELOW:

The base salaries for Gay came in different than my guess above. Gay will earn base salaries of $1,000,000, $1,500,000 and $1,500,000 over the course of the next three years. This makes his cap hits in each of the next three years, $1,166,666,$1,666,666 and $1,666,666 respectively. The potential dead money remains the same. The change in the rule 51 number based after the Gay signing increases $761,666.00.

 

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About Dave Bryan

I am, I'm me. 40 something, retired and a life long Steelers fan.
  • http://twitter.com/Steelersdepot Steelers Depot

    I find it funny that people are tripping over this contract. It only cost the Steelers $511,666.66 in 2013 cap space after displacement in top 51 to sign Gay and provide experienced depth. The final two years are not guaranteed.

  • Kenneth Wilt

    This is a great. Justin King was costing 750,000, so to go from that to this….great move by the Steelers.

  • Jollyrob68

    Great signing

  • walter mason

    Great signing. We are covering ourselves if Keenan doesnt sign. If Keenan does sign, we have depth. Gay is not a bad player and he knows the system.

  • zyzak

    Gay is good blitzing from the slot, he knows the game. Just have to let him do the things he’s comfortable with.

  • Bob Loblaw

    It’s funny to see the difference in comments in this section compared to the ones above.

  • Jason White

    I absolutely love signing him. Now if they get Keenan Lewis signed longterm then the top 4 corners will be Ike, Keenan, Cortez and Gay. Then you figure after Ike is gone Keenan and Cortez will be your starting corners and I can live with that. Maybe by then Curtis or Van Dyke will have stepped up and we will have solid depth after Ike is gone.

  • costanza2k1

    It’s quite obvious the people below are the people in the know lol

  • John A Stewart

    YOU MUST OF BUMP YOUR HEAD GAY WAS RATED THE WORST CB LAST YEAR HE GAVE UP OVER 760 YARDS I TRULY BELEIVE THIS GUY GOT SOME PICTURES OF SOMEONE DOING SOMETHING.I MEAN HE WAS CUT BY ARIENS AND HORTON DIDNT EVEN CALL HIM.GAY HAD THE NERVE TO SAY THAT OTHER TEAMS WERE INTERESTED THAT WAS BS.WHEN HE WAS HERE THEY NEVER BENCH HIM BECAUSE HE WAS TOMLIN’S BOY BUT YOU BENCH A RB TWO GAMES DWYER BECAUSE HE FUMBLES.KEEP SCREWING UP MIKEY AND HALEY IS GOING TO GET YOUR JOB CANT WAIT!

  • http://twitter.com/Johnny_Loose Johnny Loose

    Way to go Colbert, we’re basically covering our a$$ by doing this. Now let’s get Keenan signed!!!

  • mghjr88

    DAMN CAPS LOCK

  • LouPGH

    Go back to the FB comments, please. This area is reserved for intelligent discussion… and, ‘ya know, grammar.

  • zyzak

    Keenan Lewis knows right now where h will be this season. Done deal, my guesses are SF Cleveland or Pgh

  • steeltown

    Good signing… doesnt cost much against cap this season.. and he can be released after the season with minimal dead money charge and/or by 2015 we’ll know where we stand in regards to the long term with Cortez Allen and Curtis Brown

  • steeltown

    One thing that might, just maybe, be a good thing about this is that Gay could potentially talk with K.Lewis about how the grass is not greener on the other side

  • steeltown

    Agreed

  • DashingDave314

    As long as the Steelers don’t expect him to be able to cover guys like Torrey Smith, he’ll be fine.

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