The Pittsburgh Steelers have made their intentions clear about extending T.J. Watt this summer in the hopes of making him a Steeler for life. Doing so won’t come cheap. According to Sportskeeda’s Tony Pauline, a contract extension with Watt is likely to net him in the mid-to-high $30 million per year range.
“Sources say an extension would award Watt somewhere between $35 and $37 million annually,” Pauline wrote in his most recent NFL Combine roundup article.
The EDGE market has been quiet since San Francisco 49ers EDGE Nick Bosa signed his extensions ahead of the 2023 season. He remains the highest-paid edge rusher at $34 million per year, head and shoulders above second place. The market figures to heat up this offseason. The Cleveland Browns’ Myles Garrett, Dallas Cowboys’ Micah Parsons, Cincinnati Bengals’ Trey Hendrickson, Las Vegas Raiders’ Maxx Crosby, and Watt are all in line to receive new deals. With a salary cap that’s gone through the roof the past two offseasons, Bosa’s numbers should be topped by all of them and Pauline’s reported numbers reflect that.
As Dave Bryan noted, there should be urgency on the Steelers’ end to get a deal done sooner than later. Pittsburgh’s philosophy is to only offer guaranteed money past the first year under two circumstances: for a quarterback or for a player highest-paid at his position. Watt broke that seal with his 2021 extension with FS Minkah Fitzpatrick following suit ahead of 2022.
If Parsons, Garrett, and the rest get paid first, the only way for the Steelers to maintain their precedent is to top their average yearly value. Given the hefty contracts those players are expected to receive, it could drive Watt’s price tag close to or beyond $40 million per year and well beyond Pauline’s figures.
Watt is coming off a “down” seasons by his lofty standards, finishing with 11.5 sacks. That includes zero over his final four games, a first for his career. Getting a deal done with him for say, $35 million shortly after April’s draft is an ideal scenario. For the moment, it would make him the highest-paid EDGE rusher in football, offer a substantial increase of his current deal ($28 million per year), and keep the Steelers’ precedent.
From there, Garrett and Parsons can jump him the rest of the offseason. That is, assuming they haven’t received their new deals already.
