It’s been a slow offseason for Pittsburgh Steelers ILB Cole Holcomb as he continues to rehab from the serious knee injury sustained in the middle of the 2023 regular season. While Holcomb is still on the Steelers’ Active/PUP list with training camp now well underway, news surfaced on Friday that his contract has been altered and thus renegotiated.
Here is what Aaron Wilson of KPRC2-TV tweeted regarding Holcomb on Friday:
“Steelers added $3.1 million in 2024 split and base guarantees for Cole Holcomb with renegotiation, in addition to $4.92 million total guaranteed from 2023 contract.”
So, what does that even mean? On the surface, it’s difficult to decipher. But while I await some clarity from another source, it sounds like the Steelers got Holcomb to agree to a split salary clause of $3.1 million for 2024 and then guaranteed it. Meaning, if Holcomb needs to go on the Reserve/Injured list in 2024, and possibly even on the Reserve/PUP list as well, his base salary charge would drop from $6 million to $3.1 million for 2024. This would wind up being a salary cap savings for the Steelers as well, if I have interpreted the report correctly.
Assuming my assumption is correct, which might be a bit dangerous right now, it certainly does not seem as though the Steelers are expecting to have Holcomb on their Active 53-man roster at the start of the 2024 regular season. Holcomb probably agreed to the speculated split salary adjustment to avoid being cut outright.
We see split salary clauses quite often with rookies and less expensive veteran players. Those clauses keep teams from having to pay full salaries should a player wind up on the Reserve/Injured list and sometimes other lists as well. Often times, you will see undrafted players waived as injured during this time of year and then revert to the Reserve/Injured list on a cheaper salary after clearing waivers. That is even likely to happen with Steelers OLB David Perales later on Friday.
Once again, Wilson’s tweet is short and very vague, so I am just taking a stab at what he put out. I will update this post with anything new that I find out in the coming hours or days. All we know for sure is that Holcomb has had his contract altered in some form or fashion.
After signing a three-year, $18 million unrestricted free agent contract in March of 2023, Holcomb, a former fifth-round selection in the 2019 NFL Draft, proceeded to open his first season in Pittsburgh as a starter at inside linebacker. However, a serious knee injury sustained during the Steelers’ Week 8 game against the Tennessee Titans ended his 2023 season, and he landed on the team’s Reserve/Injured list after undergoing surgery.
In the eight games that Holcomb played for the Steelers in 2023, he registered 54 total tackles, four for loss, two forced fumbles, one fumble recovery, and two passes defensed.
