How about some news about the NFL’s 2022 salary cap number on this Wednesday?
According to Tom Pelissero of the NFL Network on Wednesday, the NFL and NFLPA have agreed to a $208.2 million salary cap ceiling for the 2022 season. Pelissero goes on to report that there is no cap floor as of right now. The sides agreed last August to spread the COVID-related league revenue shortfall from 2020 over several years, and the resulted in the cap number dropping to $182.5M this season.
So, now we have a ceiling for the 2022 season. Hopefully that amount of $208.2 million winds up being the final number. Currently, the Steelers have right around $134,000,000 in dedicated cap charges for 2022. That’s only with an estimated 46 players under contract. It’s also worth reminding everyone that Steelers outside linebacker T.J. Watt is likely going to sign a monster contract extension later this summer. When and if he does, his 2022 cap charge figures to be in the neighborhood of $23 million.
Additionally, the Steelers still aren’t likely done restructuring contracts this offseason. Defensive end Stephon Tuitt and kicker Chris Boswell are strong candidates for such later this summer, and thus would kick a little more cap spending into 2022 as well.
The Steelers will likely need around another $15 million to cover 2022 in-season costs, a practice squad, draft class, the rest of their top 51 and a 52nd and 53rd player. So, with all of that loosely accounted for, and assuming Watt gets the kind of extension I think he’ll get, go ahead and put the Steelers down for at least $175 million being accounted for 2022. That would loosely have the Steelers at $33.2 million under a 2022 cap number of $208.2 million, with other work needing be done such as re-signing some of their own free agents and maybe even using the franchise tag.
After the remainder of the Steelers 2021 draft class is signed and all numbers are reported, I will take a look ahead at the team’s 2022 salary cap situation in a separate post and give you all an idea of what to expect.
As Pelissero pointed out on Wednesday, the final salary cap number for 2022 won’t be set until next February, and it could ultimately land below $208.2 million depending on revenue projections.