The Pittsburgh Steelers are reportedly freeing up a little salary cap space for the 2018 season via a contract restructure.
According to Adam Schefter of ESPN, the Steelers are converting almost $3 million of the 2018 base salary that tight end Vance McDonald is scheduled to make into a signing bonus to free up a little more than $2 million in salary cap space.
Steelers are freeing up over $2 million in salary-cap space by converting about $3 million of TE Vance McDonald’s base salary into signing bonus for this season, per league source. More flexibility for Steelers.
— Adam Schefter (@AdamSchefter) August 28, 2018
McDonald was scheduled to earn a base salary of $3.7 million in 2018 so the Steelers likely converted $2.91 million of that into a signing bonus which would then make his new base salary $790,000. Such a restructure would create $2.1825 million in salary cap space for 2018.
If done as I just described above, McDonald’s cap charges in 2019, 2020 and 2021 will all increase by $727,500 as a result of this restructure.
The Steelers entered Tuesday with $3,266,053 in available salary cap space for 2018 after the new contract for inside linebacker Vince Williams was filed.