The Pittsburgh Steelers were certainly busy this past week as the team added three new players to their offseason roster and they parted ways with one other player. With so much happening this past week, it’s now time to update the team’s salary cap situation with the 2023 NFL Draft now less than two weeks away.
For starters, the Steelers signed defensive tackle Armon Watts and inside linebacker Tanner Muse to one-year contracts. Additionally, the team parted ways with outside linebacker Jamir Jones this past week in addition to claiming punter Braden Mann off waivers from the New York Jets. Those moves have resulted in the team now having 70 players under contract.
Watts’ contract totals out at $1,232,500 but comes with a reduced salary cap charge of $1,092,500 because it is a veteran benefit deal. The one-year deal that Muse signed totals out at $1.01 million as does the 2023 year of the claimed contract of Mann.
Currently, the Steelers are $9,346,819 under the cap as a result of their most recent moves. That amount does include the league’s workout bonus placeholder amount of $849,600 being accounted for. The Steelers entered this week $9,639,319 under the cap so just $292,500 in 2023 space was used to make these recent moves.
Largely, it seems like the bulk of the Steelers free agency signings are over with for 2023 and especially when it comes to adding players making much more than the NFL minimum for their credited seasons. The team, however, can still add a more expensive player or two should they find a bargain. They won’t be adding outside linebacker Bud Dupree, however, as he signed with the Atlanta Falcons on Friday.
Looking ahead, the Steelers have quite a few budgeted costs that they must be able to absorb with their available salary cap space. Those expected forthcoming costs include signing their 2023 rookies, accommodating a 52nd and 53rd player and signing a 16-man practice squad. Additionally, the team will need to budget for Reserve/Injured replacement costs in addition to having around $9 million in available salary cap space as an in-season funding source for roster additions and practice squad elevations.
The Steelers will also likely attempt to sign outside linebacker Alex Highsmith to a contract extension this offseason and such a move would eat into their available salary cap space as well. The Steelers are expected to restructure the contract of outside linebacker T.J. Watt later this offseason and that transaction would clear $12,613,334 in 2023 salary cap space.
Below is a look at the Steelers current salary cap position along with a projected outlook moving forward.
