The Pittsburgh Steelers signed veteran WR Van Jefferson to a one-year contract last week and finally the details related to that deal have surfaced. The numbers are as expected as it is a veteran benefit deal, according to Over the Cap.
Jefferson’s deal totals out at $1.2925 million, and it includes a minimum base salary of $1.125 million in addition to a signing bonus of $167,500, which is the maximum allowed in the CBA for 2024 so that it can qualify as a veteran benefit contract. The only guaranteed money in the deal is the $167,500 signing bonus.
As a veteran benefit contract, only $985,000 of Jefferson’s base salary will count against the Steelers 2024 salary cap amount. That is the minimum amount of a player with two credited NFL seasons. Additionally, Jefferson’s full signing bonus will count against the cap as well. This means that Jefferson’s 2024 cap charge is set to be $1.1525 million.
Jefferson enters the Steelers’ Rule 51 with his cap charge and displaces a player with a salary of $915,000. This means that the Steelers effectively used $237,500 in available salary cap space to sign Jefferson.
For his NFL career to date, Jeferson, who was originally selected by the Los Angeles Rams in the second round of the 2020 NFL Draft out of Florida, has registered 113 total regular season receptions for 1,600 yards with 10 touchdowns.
Jefferson finished the 2023 NFL season with the Atlanta Falcons after being traded to them by the Rams last October. That means he played over half the 2023 season for new Steelers offensive coordinator Arthur Smith, who was the Falcons’ head coach the previous three seasons.
The Steelers are now sitting $14,965,998 under the cap after Jefferson’s signing when it comes to the Rule of 51. However, we are awaiting contract details for the team’s three newest players, WR Quez Watkins, QB Kyle Allen, and DL Dean Lowry. Those three contracts might very well be identical to the one that Jeferson just signed.
