The Pittsburgh Steelers made their trade for inside linebacker Joe Schobert official on Saturday morning. That release also made official that the team gave the Jacksonville Jaguars a 2022 sixth-round draft pick as part of the deal. Not long after that news was announced, John Reid of the Florida Times Union reported on Twitter that the Steelers will take on all of the $7 million fully guaranteed that Schobert is scheduled to earn.
Jaguars getting sixth-round pick from Steelers in exchange for Joe Schobert. Steelers will assume Schobert's $7 million base salary in 2021.
— John Reid (@JohnReid64) August 14, 2021
There had been previous reports that the Jaguars would take on some of the $7 million that Schobert is scheduled to earn in 2021. That, however, no longer appears to be the case, according to Reid. Schobert’s contract also includes $300,000 in total roster bonuses that he can earn in 2021 so the Steelers will obviously assume that portion of the contract as well as the additional three years at its current structure
As things stand currently, Schobert is scheduled to count $7.3 million against the salary cap. That, however, is unlikely to be his cap charge come Week 1 of the 2021 regular season as the Steelers will likely get him to restructure his deal.
Below is a look ahead at what Schobert’s contract would like after a full restructure and assuming his roster and workout bonuses are all left as is. As you can see, Schobert’s cap charge would decrease by a little more than $4.5 million via this sort of full restructure.