Wednesday, April 10th, 2013 at 12:02 pm
So let's say that Pittsburgh Steelers general manager Kevin Colbert decides that he does want to match the one-year offer sheet that restricted free agent wide receiver Emmanuel Sanders has signed with the New England Patriots. What options to the Steelers have to create the needed cap space?
For starters, the Steelers would instantly have the $1.323 million tender price to apply against the one-year deal, which is believed to be $4 million or so. They also currently have just under $2 million in cap space to work with. So in essence, they will need to come up with another $1 million or so in Read more [...]
Friday, March 29th, 2013 at 9:21 am
The first few waves of free agency signings are currently in the books and the Pittsburgh Steelers have made just a few low profile moves like we expected that they would. With the draft now less than a month away, the team sits with just under $2.5 million worth of salary cap space to get them to June, when they will pick up about another $5 million after displacement from the release of guard Willie Colon.
We will now look at the cap space that will be needed by the Steelers moving forward and will assume that they will hold onto all eight of their current draft picks on draft day.
The Read more [...]
Tuesday, March 19th, 2013 at 7:46 am
On Tuesday, Alan Robinson of the Pittsburgh Tribune-Review wrote an article that spells doom and gloom for the Pittsburgh Steelers salary cap situation, for not only this year, but the next few years as well.
The narrative of Robinson 's article revolves around the Steelers restructuring of contracts and how it prevents them from being active in free agency as a result. Like they have ever been active in free agency?
Robinson writes, "Ben Roethlisberger, for example, is renegotiating his contract almost annually, and it is causing money to stack up against future caps. His contract counts $13.595 Read more [...]
Monday, March 18th, 2013 at 9:11 pm
Ian Rapoport of NFL.com suggested to a Twitter follower on Monday that the Pittsburgh Steelers could restructure the contract of safety Troy Polamalu in order to be able to afford former Denver Broncos defensive end/linebacker Elvis Dumervil.
It is sad to see such a flip answer such as that from Rapport, as it gives fans false hope. Sure, the Steelers have the ability to restructure Polamalu's contract, but it certainly wouldn't be a sound business decision.
Polamalu is scheduled to earn a base salary of $7.5 million in 2013 and his Read more [...]
Saturday, March 16th, 2013 at 10:23 am
Over the course of the last several weeks Omar Khan has cleared $23,578,750 off of the Pittsburgh Steelers 2013 salary cap with just four contract restructures and one contract termination. Several months ago I laid out the course of action that Khan would take to clear around $20 million of cap space via four restructures. While I didn't nail the amount on the head, I did nail the four players he would restructure and the general course of action.
As I do every year, here is a recap of how that was done and what it means to future cap years as a result.
Linebacker Lawrence Timmons was the first Read more [...]
Friday, March 15th, 2013 at 8:53 pm
The contracts of Pittsburgh Steelers wide receiver Plaxico Burress, long snapper Greg Warren and tight end/fullback David Johnson have now all be filed to the NFLPA and here is a rundown on each of them.
Burress received a one-year qualifying contract which comes with a reduced salary cap charge. He is scheduled to earn a base salary of $940,000 in 2013 and received a $65,000 signing bonus, which is the maximum he could get for that type of contract. He will have a cap charge of $620,000 in 2013 with that contract. Should he not make the final 53 man roster his dead money charge in 2014 will Read more [...]
Thursday, March 14th, 2013 at 10:20 pm
The contract numbers are finally up for the three-year $5.5 million contract signed by Pittsburgh Steelers linebacker Larry Foote earlier this week and the breakdown is below.
Foote received a $1 million signing bonus and base salaries of $1.5 million in each of the three years of the deal.
Foote, who was reportedly also being courted by the Arizona Cardinals, likely needed more guaranteed money up front from the Steelers in order to stay, and thus the $1.5 million base salary in 2013. In total, he gets $2.5 million guaranteed.
After 2013 Foote can easily be released with the Steelers Read more [...]
Wednesday, March 13th, 2013 at 11:11 am
The long awaited deed is finally done as it is now being reported that the Pittsburgh Steelers have released guard Willie Colon with a post June 1st designation.
Colon was originally drafted by the Steelers in the fourth round of the 2006 NFL Draft out of Hofstra University and originally played right tackle until he was moved to left guard last off-season.
Colon was a picture of health for his first four seasons with the Steelers, but once the injury bug bit, it did not let go. Colon tore his Achilles prior to the 2010 season and it landed him on injured reserve for the year. The Steelers Read more [...]
Tuesday, March 12th, 2013 at 10:09 am
The contract numbers for the new three-year contract that Pittsburgh Steelers guard Ramon Foster signed on Monday are in and the deal reportedly totals out $6 million and includes a $900,000 signing bonus, according to Mark Kaboly of the Pittsburgh Tribune-Review on Twitter.
The base salaries for Foster are $1.1 million, $2 million and $2 million in 2013, 2014 and 2015 respectively. This would put Foster's 2013 salary cap number at $1.4 million.
It is a great deal for the Steelers as that cap charge is only slightly higher than what a low restricted tender is this offseason.
Foster started Read more [...]
Tuesday, March 12th, 2013 at 9:55 am
The Pittsburgh Steelers have now finished their fourth contract restructure of the offseason as linebacker LaMarr Woodley had $5.4 million of his $9 million base salary that he was scheduled to earn in 2013 turned into a signing bonus on Tuesday. The result of the restructure lowers Woodley's 2013 cap charge down to $9.19 million and clears $4.05 million in 2013 cap space for the Steelers.
The Steelers also recently restructured the contracts of linebacker Lawrence Timmons, quarterback Ben Roethlisberger and wide receiver Antonio Brown over the course of the few weeks.
Woodley is coming off Read more [...]
Tuesday, March 12th, 2013 at 8:04 am
It's finally here. The 2013 league year begins at 4:00 p.m. EST today and the last two weeks have been very busy for the Pittsburgh Steelers, who restructured three contracts, issued four restricted tenders, signed cornerback William Gay and guard Ramon Foster to three year deals, and released linebacker James Harrison. That's quite a bit of work, but the work is not done.
Until we get the final numbers in on the Foster contract, I will not go into great detail, but the Steelers are presumably just a couple a million under the $123 million salary cap with just hours to go before the start of the Read more [...]
Monday, March 11th, 2013 at 2:36 pm
While we still don't know the exact value of three-year contract signed by Pittsburgh Steelers unrestricted guard Ramon Foster, it doesn't really matter as far as the future of guard Willie Colon with the team goes unless he takes a cut in pay.
Colon, as I pointed out a few days ago, has been in limbo, and now that limbo has an arrow pointing to the unemployment line if he does not agree to take a cut in his $5.5 million base salary.
So what are the options as far as Colon goes outside of him taking a pay cut? The Steelers could release him now and eat $6.45 million in dead money which would Read more [...]
Saturday, March 9th, 2013 at 6:35 pm
The Saturday business moves for the Pittsburgh Steelers now appear to be in the books following the release of linebacker James Harrison and the restricted tendering of running back Jonathan Dwyer, running back Isaac Redman, wide receiver Emmanuel Sanders and nose tackle Steve McLendon. Although it hasn't been reported, running back Baron Batch and cornerback DeMarcus Van Dyke have both likely received their minimum salary exclusive rights tenders by now as well. Until I hear otherwise, I will assume they have.
With all of those moves now behind us we can take a look at where the Steelers are Read more [...]
Saturday, March 9th, 2013 at 4:13 pm
According to ESPN.com, the Pittsburgh Steelers issued their restricted tenders on Saturday.
Running back Jonathan Dwyer, running back Isaac Redman, wide receiver Emmanuel Sanders and nose tackle Steve McLendon all received $1.323 million tenders.
Dwyer and Sanders were issued original round tenders. That means the Steelers would receive compensation of a draft pick that corresponds with the round that each was originally drafted should either wind up signing with another team. Dwyer was a sixth round selection, while Sanders was a third round pick. The steelers also have the right to match Read more [...]
Saturday, March 9th, 2013 at 3:18 pm
I will pass this along to you, but I don't believe an ounce of it. Mike Florio of Pro Football Talk reports on Saturday that the Pittsburgh Steelers offered linebacker James Harrison a roughly 30 percent cut to his $6.57 million base salary with an opportunity to earn the money back via incentives prior to releasing him.
A 30% reduction equates to only $1.971 million and I have a hard time believing that the Steelers only wanted that low of pay cut from Harrison. That would have equated to a base salary in 2013 of $4.599 million.
Regardless of what the incentives were, which by the way would Read more [...]
Friday, March 8th, 2013 at 3:18 pm
It should come as no surprise to you that Mike Garafolo of USA Today is reporting on Friday that that Pittsburgh Steelers are "on the verge" of releasing outside linebacker James Harrison.
Garafolo reports that the two sides, which includes Harrison's agent Bill Parise, have been speaking regularly and talked again on Friday. According to a source of Garafolo's, there's still been no progress in getting Harrison to take a cut to his $6.57 million base salary that he is scheduled to earn in 2013.
Parise has been trying to get the Steelers to restructure Harrison's contract instead, but doing Read more [...]
Thursday, March 7th, 2013 at 6:10 pm
Ed Bouchette of the Pittsburgh Post Gazette reports on Thursday that talks between the Pittsburgh Steelers and Bill Parise, the agent for linebacker James Harrison, are currently at an impasse concerning his contract.
The Steelers are obviously wanting Harrison to take a cut in his $6.57 million salary this season, but it appears that is something the linebacker isn't interested in doing.
Parise had said a few weeks ago that they were interested in helping the Steelers out by having Harrison's contract restructured, which would result in more cap liability being pushed forward to future years Read more [...]
Tuesday, March 5th, 2013 at 9:00 pm
I was asked via email what a restructure would look like for Pittsburgh Steelers linebacker James Harrison if another year was added onto his contract this week.
Harrison's agent, Bill Parise, said initially that his client wasn't open to taking a pay cut, but that they were open to doing a restructure. The two sides were reportedly talking again on Tuesday, but word has yet to surface as to which way the talks are heading as far as a possible pay cut or restructure goes.
Harrison is set to earn a base salary in 2013 of $6.57 million. His cap number, mind you, is scheduled to be $10.035 million. Read more [...]
Tuesday, March 5th, 2013 at 4:22 pm
With the start of 2013 league year now one week away, the Pittsburgh Steelers are continuing to try to trim additional salary cap dollars however they can.
Ed Bouchette of the Pittsburgh Post-Gazette reports on Tuesday that Bill Parise, the agent for linebacker James Harrison, is continuing his talks with Steelers concerning his clients' future.
Parise reportedly met with the Steelers during the NFL combine and indicated that future talks were likely.
Parise had indicated earlier in the offseason that they were not interested in Harrison taking a paycut, but that they were open to restructuring Read more [...]
Tuesday, March 5th, 2013 at 3:06 pm
There is just one week to go now before the start of the 2013 league year. The Pittsburgh Steelers are already under the $123 million cap number with a current Rule of 51 number of roughly $121,065,372.66 after the signing of cornerback William Gay on Monday. That number includes the $1.4 million cap credit that they are also reportedly due.
As you can see, that number is just $1,934,627.34 under the $123 cap number. Next up for the Steelers will be tendering of the restricted and exclusive rights free agents that they wish to keep. The restricted free agent list consist of Jonathan Dwyer, Jeremy Read more [...]