On the heels of the Pittsburgh Steelers 2023 season ending last week, the team now has several big decisions to make this offseason with several of those revolving around players currently under contract for the 2024 season. Included in those several players, and especially those due roster bonuses in March, is veteran C Mason Cole, who has been the team’s starter the last two seasons. While on the surface it appears logical that Cole might be jettisoned at some point during the offseason, that jettisoning might not take place as early as most think it will.
Cole is due a $1.5 million roster bonus on March 19, just after the start of the 2024 NFL league year, and that is why it seems logical to terminate his contract by then. However, parting ways with Cole several weeks from now would leave the Steelers without a heavily experienced starting NFL center at that point with several weeks to go before the 2024 NFL Draft takes place. Sure, the team would have other center-capable options still under contract, notably James Daniels and Nate Herbig, should they part ways with Cole in March. But even so, both of those players probably aren’t ones the team wants to rely on as being a starter in 2024.
When it comes to a potential 2024 replacement for Cole, that would likely come via the draft or the free agency signing period, which will only be a few days old come time to make a roster bonus decision with Cole. Could the team sign a veteran center replacement in the early days of free agency and then turnaround and terminate the contract of Cole before his roster bonus is due? Absolutely, they could. But what if they don’t? And what if they ultimately don’t get one of the few centers they might have their eyes on in the 2024 NFL Draft? It’s something to think about.
While Cole certainly wasn’t great in 2023, he was at least serviceable. On top of that, he has been available as he hasn’t missed a game since signing his three-year contract in March of 2022. In short, and with Cole set to earn $4.75 million in total cash in 2024, is it worth saving $1.5 million in instant 2024 salary cap space in March? Maybe not.
Now, if the Steelers were to retain Cole past his roster bonus date, it still wouldn’t guarantee him anything past that $1.5 million payment. The Steelers could still address the center position during the draft, or later in free agency, and then wind up cutting or trading Cole later in the offseason. Once again, he has some value as an experienced NFL center and it’s not like the $4.75 million total amount that he’s scheduled to earn in 2024 is a daunting number to have to deal with between now and the start of the regular season.
If you look at the list of currently scheduled unrestricted free agent centers on Over the Cap, it’s not great overall. In fact, it’s so unappealing top-to-bottom that a player such as Cole might not be out of work long should the Steelers terminate his contract in March. Once again, the only good reason to jettison Cole in March revolves around saving an additional $1.5 million in cash and salary cap space. That’s not a huge amount in the grand scheme of things, if we’re being honest.
If you look at Cole’s situation from a business standpoint, the right decision might just be to retain him past March 19. At that point, the team could still address the center position during the draft with hopes of finding an instant and hopefully longer-term starter.
Assuming said draft pick stays healthy and is ready to be the Steelers Week One starter once the preseason ends, a final decision could then be made with Cole. That would include possibly trading him to a team in need of a starting center for whatever reason. At that point, the Steelers would at least free up $3.9 million in 2024 salary cap space prior to his roster displacement. Look at his bonus as a possible $1.5 million offseason insurance policy for the center position, if you will.
Personally, my hope is that the Steelers exit the 2024 NFL Draft with a franchise center. I bet most of you reading this hope the same. Even so, there’s no guarantee that ultimately transpires. If Cole were due a 2024 March roster bonus of $3 million or more, it would certainly make the decision to cut him by the 19th of that month a lot easier. That’s not the case, however, and like it or not, Cole’s current value, at least for the remainder of the summer, seems to be at least worth a $1.5 million investment.
How will this ultimately play out with Cole? I’m not totally certain. Personally, however, I won’t be shocked either way come March 19. Should, however, Cole ultimately survive the March 19 roster bonus date, I still think there’s a good chance that he winds up off the roster by Week One of the 2024 season and especially if the Steelers are able to draft a center of their liking in late April.
