The Pittsburgh Steelers signed TE Pat Freiermuth to a new contract on Friday, and while we loosely knew details related to it, the correct numbers are now known as of Tuesday morning, via the NFLPA filing.
As part of what was essentially a four-year contract extension, Freiermuth was given a $10.5 million signing bonus in addition to new base salaries of $1.1 million, $10.785 million, $7.6 million, $8.5 million, and $6,897,024 in years 2024 through 2028, respectively. Freiermuth also has $1.5 million roster bonuses due in 2026, 2027, and 2028. Those are March roster bonuses.
Only $11.6 million of Freiermuth’s deal is fully guaranteed. That’s exactly what he will earn in 2024, which is his base salary ($1.1 million) and signing bonus ($10.5 million).
Freiermuth’s salary cap charges as a result of his new deal will be $3,636,033, $12.885 million, $11.2 million, $12.1 million, and $10,497,024 in the years 2024 through 2028, respectively. His 2024 salary cap charge was scheduled to be $1,918,057 so it has now increased by just $1,717,976 as a result of his new contract.
Freiermuth was scheduled to earn $1,482,024 in 2024 so his new cash for 2024 is $10,117,976. His new cash flow through the first three new years of his deal, 2025-2027, is slightly better than that of Chicago Bears TE Cole Kmet.
Before signing his new contract, Freiermuth had a new money average of $1,507,045. His new new money average is $12.1 million, and that ranks him ninth in the NFL and between Kmet ($12.5M) and Houston Texans TE Dalton Schultz ($12M).
