On the list of the Steelers’ potential salary cap casualties, the name of Cole Holcomb stands out for obvious reasons. He has missed the majority of a three-year contract he signed in 2023, which runs through next season. That includes all of this past year, and they owe him $6 million for the next should they retain him.
Given that they didn’t wait for him—they couldn’t—it seems unlikely the Steelers would sit tight with Cole Holcomb on his current contract. He is due a $2 million roster bonus next month already, unless he agrees to defer it. But a complete parting of ways may not be necessary.
“Cole Holcomb is maybe a little bit of a special circumstance”, Ray Fittipaldo said on the North Shore Drive podcast when considering the Steelers’ potential salary cap cuts. “I think you could save yourself around $6 million there. I think you can do that in a way, though, where you cut him and you bring him back on an adjusted salary. So you might not recoup the entire $6 million there, but I do think that’s another move that can be had as well”.
It’s not unheard of for a team to release a high-salaried player only to re-sign him at a lesser amount. The Steelers once did that with OT Max Starks way back when, for example. No doubt the Steelers would want to continue to do business with Holcomb, but not at $6 million.
Of course, the Steelers could also approach Holcomb about a pay cut in lieu of release. Given his recent health, it’s unlikely he will have much of a market. No doubt they would ask him to forego the signing bonus entirely and perhaps shave off $1-2 million in salary as well.
In the past, players like Ike Taylor and Casey Hampton have begrudgingly accepted pay cuts rather than their release. James Harrison made the opposite choice, and no doubt many others that were never reported. In the case of Cole Holcomb, though, he doesn’t seem to have much bargaining power with the Steelers.
A 2019 fifth-round pick, Holcomb has only played 15 games in the past three seasons. That includes the first eight games of his first season with the Steelers in 2023. During that run, he recorded 54 tackles, including four for loss, with two forced fumbles and two passes defensed.
That wouldn’t be a bad thing to hold onto if they could manage it, as a roll of the dice. The reality is the Steelers likely don’t know if Cole Holcomb will even play in the NFL again. He did return to practice at the end of last season but with no serious chance of playing.
Now with Patrick Queen and Payton Wilson, there isn’t much room at the top of the depth chart. But if Holcomb is willing to work his way back from the bottom of the depth chart, at a price that reflects his new circumstances, I think the Steelers should welcome the opportunity.
