The Pittsburgh Steelers reportedly traded a 2025 draft pick to the New York Jets for WR Mike Williams on Tuesday and assuming he passes his team physical, there should be very little salary involved for the acquiring team.
While the deal that Williams signed with the Jets in March was worth up to $10 million, the way the contract was structured by New York left very little money for the Steelers to inherit upon acquiring the longtime member of the Los Angeles Chargers.
For starters, the Jets reportedly wrapped most of the 2024 money that Williams was scheduled to earn into a signing bonus, and they included four voidable years to amortize the bulk of that amount for salary cap purposes. Even the $1.7 million in per game roster bonuses that Williams was scheduled to earn in 2024 were reportedly rolled into the signing bonus. The result of the contract structure, according to Over the Cap, was Williams earning a base salary of $1,255,000 in 2024.
With nine weeks of the 2024 regular season now behind us, and with nine weeks technically still remaining because of a bye week counting, the Steelers should inherit Williams’ remaining base salary of $627,500. That should be his salary cap charge as well.
Williams’ contract also reportedly allowed him to earn another $5 million in performance incentives and the 33rd Team has them itemized on its site. Those incentives, assuming they indeed carry over, should be considered not likely to be earned from a salary cap perspective. Williams would really need to have a fantastic second half of the 2024 season to achieve any of those performance incentives. If he hits any of them, they will go against the Steelers’ 2025 salary cap number.
Williams’ contract does void after the 2024 season on Feb. 10, according to Over the Cap.
In short, the Steelers won’t be strapped at all financially after acquiring Williams from the Jets. Consider it a fifth-round dart throw.
Williams had 12 receptions for 166 yards and no touchdowns this season as a member of the Jets. For his career, he has 321 receptions for 4,972 yards and 31 touchdowns.
EDITED TO ADD: Since this post went live, Over the Cap has changed several of their figures related to previous numbers they had for Williams, which were used as a basis for this post. They are now showing Williams as a Steeler with a cap charge of $2.5 million. These changes by OTC were not expected based on the way they had the contract laid out as a member of the Jets. We will know for sure in a few days once this contract hits the NFLPA.
