The Steelers have made several moves in free agency to upgrade their roster, and now we have a clearer picture of how these moves affect their salary cap situation in 2025 and beyond.
Contract details are now available for DK Metcalf, Brandin Echols and Malik Harrison, who all signed to multiyear contracts. We already knew the finances for Darius Slay's one-year, $10-million contract and Kenneth Gainwell's one-year, $1.79-million deal. Those are easy to compute since they are just one year.
Let's start with Metcalf's contract, who signed a five-year, $150-million contract after being acquired via trade from the Seahawks. Here's the full cap breakdown over the life of the contract:
• 2025: $5 million salary (guaranteed), $6 million signing bonus = $11 million cap hit
• 2026: $25 million salary (guaranteed), $6 million signing bonus = $31 million cap hit
• 2027: $20 million salary, $6 million signing bonus, $6.5 million roster bonus = $32.5 million cap hit
• 2028: $23 million salary, $6 million signing bonus, $5 million roster bonus = $34 million cap hit
• 2029: $30.5 million salary, $6 million signing bonus, $5 million roster bonus = $41.5 million cap hit
Now, you're probably seeing those cap hits grow and are starting to freak out. Don't.
Notice how the salaries are only guaranteed in the first two years of the contract. Those roster bonuses during the final three years of the contract only become guaranteed after the start of the new league year in each of those respective years. That means only $60 million of $150 million is guaranteed. That comes with A LOT less risk.
If the Steelers wanted to cut ties with Metcalf after the second year of the contract, they would only have $18 million of dead cap (the three remaining years of signing bonus money) and would clear $14.5 million in cap space by cutting him prior to when his roster bonus would be due.
Also, don't freak out about the jump in cap hits, either. Remember, the cap increases every year, and it's growing at a rapid pace. Based on the projection for the next two years, Metcalf's cap hit would only be 10.5% of the cap in each year. That's the going rate for somebody being paid as the team's best player, at least on their respective side of the ball. Last year, T.J. Watt's cap hit was 11.91% of the team's cap figure.
With the lack of guaranteed money in this contract, the Steelers got a great deal for Metcalf, a borderline top-10 receiver in the NFL.
Echols signed a two-year, $6-million contract with $1.83 million guaranteed. His cap hit for 2025 is $2.085 million, and increases to $3.915 million in 2026. However, the Steelers can save $3 million in cap space should they decide to cut ties with him after one season.
We already knew Harrison's contract was a two-year, $10-million contract, but we needed to see how it was structured before knowing how it would affect this year's cap. First, only $4.08 million is guaranteed. Harrison's cap hit in 2025 is $3.21 million and increases to $6.79 million in 2026. However, the Steelers can save $4.75 million in cap space should they decide to cut ties with him after one season.
With all of the contract details known, the Steelers currently have $40.82 million in cap space. Now, that's not accounting for Mason Rudolph, Juan Thornhill, Scotty Miller, Ben Skowronek, Isaiahh Loudermilk, Esezi Otomewo, Daniel Ekuale or James Pierre. That sounds like a lot of contracts to add to the mix, but many of these -- if not all -- will be lower-dollar contracts. And, because only the top-51 contracts are counted toward the cap during the offseason, adding those eight players would move eight contracts out of the top 51. Currently, those bottom-eight contracts account for a total of $7.968 million toward this year's cap. So, adding those eight guys won't add much to the cap at all.
Bottom line, the Steelers still maintain plenty of flexibility, whether or not they end up signing Aaron Rodgers. And, Watt's looming extension has the potential to add even more cap space in 2025.
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THE ASYLUM
Chris Halicke
3:57 pm - 03.21.2025DowntownContract details paint clearer salary cap picture
The Steelers have made several moves in free agency to upgrade their roster, and now we have a clearer picture of how these moves affect their salary cap situation in 2025 and beyond.
Contract details are now available for DK Metcalf, Brandin Echols and Malik Harrison, who all signed to multiyear contracts. We already knew the finances for Darius Slay's one-year, $10-million contract and Kenneth Gainwell's one-year, $1.79-million deal. Those are easy to compute since they are just one year.
Let's start with Metcalf's contract, who signed a five-year, $150-million contract after being acquired via trade from the Seahawks. Here's the full cap breakdown over the life of the contract:
• 2025: $5 million salary (guaranteed), $6 million signing bonus = $11 million cap hit
• 2026: $25 million salary (guaranteed), $6 million signing bonus = $31 million cap hit
• 2027: $20 million salary, $6 million signing bonus, $6.5 million roster bonus = $32.5 million cap hit
• 2028: $23 million salary, $6 million signing bonus, $5 million roster bonus = $34 million cap hit
• 2029: $30.5 million salary, $6 million signing bonus, $5 million roster bonus = $41.5 million cap hit
Now, you're probably seeing those cap hits grow and are starting to freak out. Don't.
Notice how the salaries are only guaranteed in the first two years of the contract. Those roster bonuses during the final three years of the contract only become guaranteed after the start of the new league year in each of those respective years. That means only $60 million of $150 million is guaranteed. That comes with A LOT less risk.
If the Steelers wanted to cut ties with Metcalf after the second year of the contract, they would only have $18 million of dead cap (the three remaining years of signing bonus money) and would clear $14.5 million in cap space by cutting him prior to when his roster bonus would be due.
Also, don't freak out about the jump in cap hits, either. Remember, the cap increases every year, and it's growing at a rapid pace. Based on the projection for the next two years, Metcalf's cap hit would only be 10.5% of the cap in each year. That's the going rate for somebody being paid as the team's best player, at least on their respective side of the ball. Last year, T.J. Watt's cap hit was 11.91% of the team's cap figure.
With the lack of guaranteed money in this contract, the Steelers got a great deal for Metcalf, a borderline top-10 receiver in the NFL.
Echols signed a two-year, $6-million contract with $1.83 million guaranteed. His cap hit for 2025 is $2.085 million, and increases to $3.915 million in 2026. However, the Steelers can save $3 million in cap space should they decide to cut ties with him after one season.
We already knew Harrison's contract was a two-year, $10-million contract, but we needed to see how it was structured before knowing how it would affect this year's cap. First, only $4.08 million is guaranteed. Harrison's cap hit in 2025 is $3.21 million and increases to $6.79 million in 2026. However, the Steelers can save $4.75 million in cap space should they decide to cut ties with him after one season.
With all of the contract details known, the Steelers currently have $40.82 million in cap space. Now, that's not accounting for Mason Rudolph, Juan Thornhill, Scotty Miller, Ben Skowronek, Isaiahh Loudermilk, Esezi Otomewo, Daniel Ekuale or James Pierre. That sounds like a lot of contracts to add to the mix, but many of these -- if not all -- will be lower-dollar contracts. And, because only the top-51 contracts are counted toward the cap during the offseason, adding those eight players would move eight contracts out of the top 51. Currently, those bottom-eight contracts account for a total of $7.968 million toward this year's cap. So, adding those eight guys won't add much to the cap at all.
Bottom line, the Steelers still maintain plenty of flexibility, whether or not they end up signing Aaron Rodgers. And, Watt's looming extension has the potential to add even more cap space in 2025.
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