Baked into every first-round pick’s rookie contract is a team-option to pick up a fifth season. That decision must be made the year prior, and that fifth-year option amount is fully guaranteed upon exercise. The Steelers now have two first-round picks from the 2021 draft on their roster with the recent trade being announced for QB Justin Fields. Fields was the 11th overall selection in that draft class and RB Najee Harris, the Steelers’ own selection, was taken at 24th overall. This makes the approaching May 2nd deadline for exercising the options all the more intriguing for Pittsburgh.
The options work in tiers based on playtime and number of Pro Bowl selections. While Harris was a Pro Bowler in his rookie season, it was as an alternate, which doesn’t count towards the formula. Both players fall under the playtime tier. This puts Fields’ fifth-year amount at $25,664,000 and Harris’ at $6,790,000 for the 2025 season, if exercised per Over The Cap.
We have already written about Harris’ option a number of times on the site this offseason. At that amount, it seems like a slam-dunk for the Steelers to pick it up given his level of production and his availability, having missed zero games in his first three seasons. With the running back market being uncharacteristically hot this free agency period, Harris could try to push for an extension now, rather than punting to next season under the fifth-year option.
Fields’ decision is more complicated. One of the big reasons why his trade didn’t make sense for most of the offseason was the projected draft capital that would be needed to acquire him. If the team had spent a second-round pick on him, it would be difficult to not pick up the option as he would be entering the final year of his contract and free to negotiate with any team next offseason.
Since the compensation is just a conditional sixth-round pick in 2025, which could turn into a fourth if Fields plays 51-percent of the snaps in 2024, that decision has much less pressure on it. You don’t have to dive into the mindset of a sunken cost fallacy and can take a much more measured approach to his option.
That fully-guaranteed price tag for Fields seems a bit steep, especially given that reports have already indicated he is the backup to Wilson for 2024. For that reason, it seems unlikely as I sit here right now that the option will be picked up. For a full breakdown of the salary cap ramifications of the Fields trade, check out Dave Bryan’s article.
Also to consider, Wilson reportedly wants to stay in Pittsburgh for more than just the one-year deal he is currently signed to. You wouldn’t pick up Fields’ option if Wilson is the starter for more than one year. Wilson will not come nearly as cheap as the $1.21 million he is owed by the Steelers in 2024 with the Denver Broncos picking up the rest of the tab.
But the ultimate value that Fields returned to the Bears is somewhat telling of what other organizations think of him. Pickett and Howell fetched more in return, though they have an extra year remaining on their rookie contracts. This could open the door to the possibility of extending Fields and Wilson next offseason with Fields being on a cheaper backup contract. He would have the chance to learn behind Wilson, who he models his game after, and be groomed to be the future franchise option for Pittsburgh.
It will be fascinating to see what goes down with both of these decisions come May 2nd. Either way, the Steelers have both short term and potential long term options now on the roster as quarterback.
