The Pittsburgh Steelers officially announced on Monday that they have signed free agent cornerback William Gay to a three-year contract.
The length of the contract, more than the one-year deal that I was expecting, is a bit of a surprise, but I wouldn\’t read too much into the length of the deal as the signing bonus will tell us everything that we need to know. I expect that to be $1 million or less, which should but the first year cap hit for Gay at right around $1 million. Maybe a little more, maybe a little less.
Assuming that is indeed the case with Gay, it would mean that he could easily be released after just one season with very little dead money to account for in 2014. Should he stick in 2014, his second year cap number should also be very manageable. I will pass along the specifics of the deal as soon as they become available.
Being as there was likely a signing bonus involved, Gay is now almost certain to make the Steelers 2013 roster and he provides great insurance should unrestricted free agent cornerback Keenan Lewis leave via free agency over the course of the next few weeks.
Should Lewis indeed be lost, Gay will be the odds on favorite to play the nickel role with Ike Taylor and Cortez Allen manning the two outside spots. Gay also will likely be a candidate to be the Steelers special teams captain in addition, a role that should suit him well.