The Pittsburgh Steelers signed free agent linebacker/safety Mile Killebrew not too long ago and finally the numbers related to his one-year contract have been made public.
According to Aaron Wilson of The Houston Chronicle, Killebrew signed a one-year, $1.127 million contract with the Steelers that included a signing bonus of $137,000, which makes this a benefit contract. This means Killebrew will have a discounted salary cap charge. In total, Killebrew will carry a cap charge in 2021 of $987,500.
The Steelers also re-signed free agent outside linebacker Cassius Marsh recently and his one-year contract totals out at $1.175 million and included a smaller signing bonus of $100,000, according to Wilson. This is also a benefit contract as defined in the CBA that will come with a reduced cap charge. His cap charge for 2021 is scheduled to be just $950,000.
Here is why these two contracts come with reduced salary cap charges:
Veteran salary benefit: Formerly known as the minimum salary benefit, the veteran salary benefit allow teams to offer a “Qualifying Contract” to any player with at least four credited seasons at a reduced salary cap hit. Under this provision, a qualifying contract is a one-year deal worth the minimum base salary applicable to a player with his number of credited seasons, plus $137,500 in additional compensation (i.e., signing bonus, roster bonus, incentive, etc. — amount begins to increase in 2022). These contracts are charged against the salary cap at the rate of a player with two credited seasons that league year.