With the last Saturday before the start of the 2021 NFL league year winding down, I figured several of you might like to see a real-time salary cap update for the Pittsburgh Steelers on the heels of all that has happened the last several days.
Let’s start first with what the NFLPA shows on Saturday for the Steelers. They show the Steelers with 56 players under contract for the 2021 season and the team $5,847,086 under the cap. Those numbers do include the contracts of wide receiver Ray-Ray McCloud, inside linebacker Marcus Allen and center J.C Hassenauer. Not included in that NFLPA update are the contracts of center B.J. Finney and inside linebacker Robert Spillane.
Next, we have the Saturday tweet from Field Yates concerning the Steelers salary cap situation and it shows the team $4,727,586 under the cap. That number, however, includes Finney’s new contract as well as the NFL’s annual offseason Workout Bonus Placeholder amount, which for 2021 is $792,000. The NFLPA page has not yet implemented that amount and they usually don’t until early April. Yates’ numbers include it, however, so with it forthcoming, let’s go ahead and account for it in this update.
Before we move forward, judging by the numbers that Yates posted, Finney’s one-year contract he signed on Friday totals out at $1,127,500. It includes a base salary of $990,00 and a signing bonus of $137,500. With this being a qualifying contract under the veteran salary benefit section of the CBA, Finney’s cap charge for 2021 will be just $987,500, instead of $1,127,500.
As for Spillane, who’s contract is not included in the NFLPA or Yates Saturday update, his one-year restricted tender that he is expected to sign soon should total out at $850,000. We shall go ahead and account for that as well with it being reported on Saturday.
So, where are the Steelers right now based on all the above? They have 58 players under contract with their top 51 rule number being $172,555,510. They have $9,565,459 in dead money and are rolling over $4,950,555 in unused salary cap money from 2020. They also have an offseason workout bonus place holder amount of $792,000, which I went over above.
The Steelers effective salary cap number they must stay below in 2021 is $187,450,555 ($182,500,000 + $4,950,555). Their total of top 51 amount is $172,555,510. Their dead money is $9,565,459. And their workout bonus place holder amount is currently $792,000. That means the team is currently $4,537,586 under the cap as we sit here with all signings that have been reported.
Will the Steelers sign more players or cut a player or two before Wednesday at 4 p.m. EST? It’s possible. Maybe they will surprise us with another restructure or two and maybe an extension as well. Don’t hold your breath for the latter two things, however. A contract termination or pay reduction is the most likely thing to happen in the next few days.
Please be advised that the Steelers will have other predictable fixed costs they will need to account for after March 17 and I outlined those in a post a few days ago. For all practical purposes, however, the Steelers are $4,537,586 under the cap as Saturday night comes to a close.
