Is Pittsburgh Steelers K Chris Boswell criminally underpaid heading into the 2025 season? Personally, I think so and I bet several of you reading this post would agree with me. If Boswell and the Steelers both believe that to be the case, we could see that issue remedied by the start of the 2025 regular season.
While a regular contract extension would be a straightforward way to remedy Boswell being underpaid as he heads closer to the start of the 2025 regular season, the Steelers don’t normally extend contracts of players (non-quarterbacks) with more than one season left on their current deal. Boswell is under contract through the 2026 season so history tells us that the Steelers would need to break a longstanding precedent if they were to sign him to an extension this offseason. On top of that, Boswell just turned 34 years old, so he likely has just a few seasons of play remaining in him.
In lieu of signing Boswell to a contract extension this offseason, the Steelers might just decide to give Boswell more cash for the 2025 season and thus satisfy him by giving him one of the largest cash payouts for the upcoming year when it comes to kickers. The Steelers could accomplish this by moving some of Boswell’s 2026 base salary into 2025 in addition to giving him another small signing bonus to make up the rest of the amount.
According to Over the Cap, Boswell is the 13th highest-paid kicker in the NFL when it comes to APY, or new money average. That APY is $5 million. Kansas City Chiefs K Harrison Butker is the NFL’s highest paid at that position with an APY of $6.4 million. The Steelers would essentially need to give Boswell a lot of new money over the next two years for him to top Butker’s APY (new money average) and that’s probably something they are not willing to do.
Another route when it comes to satisfying Boswell would be to increase his 2025 cash total so that it exceeds at least that of Cincinnati Bengals K Evan McPherson. That cash amount that McPherson will earn in 2025 is scheduled to be $5 million. While Green Bay Packers K Brandon McManus technically has the current highest cash earnings for 2025 at $7 million, that’s only because he signed a new deal earlier this offseason as an unrestricted free agent.
It is worth noting that only the $5 million signing bonus of that $7 million that McManus is scheduled to earn in 2025 is fully guaranteed. Also, $600,000 of the McManus $7 million cash total for 2025 is tied to workout and per-game roster bonuses. If you want to split hairs, McManus is scheduled to earn $3.7 million in cash in 2026 with $1.6 million of that tied to roster, workout and per-game roster bonuses. His max cash earnings for 2025 and 2026 total out to $10.7 million.
In case any of you reading this are curious, Boswell is scheduled to earn $3.12 million in 2025 and none of that money is fully guaranteed. In short, the Steelers could cut Boswell and only be on the hook for $3.2 million in dead money. That dead money amount would be split between the 2025 and 2026 seasons if Boswell were to be cut after June 1.
Of the 12 kickers earning more than Boswell on an APY basis, 10 are scheduled to earn more cash this coming season than the Steelers’ longtime kicker. Something probably should be done about that this offseason.
Boswell is still scheduled to earn another $3.12 million in 2026, the final year of his contract. If the Steelers want to, they could move $1.82 million of that $3.12 million from next year into 2025 as that would leave Boswell with a legal minimum salary in 2026 of $1.3 million. However, moving $1.82 million forward from 2026 into 2025 would result in Boswell’s 2025 total cash earning being just $4.94 million, or $600,000 less than McPherson is scheduled to earn this season in cash.
Perhaps the easiest way to resolve Boswell’s underpaid status would be to move $1.82 million from 2026 to 2025 in addition to giving him at least another signing bonus of $1.06 million. Doing that would result in Boswell’s 2025 total cash haul being $6 million, which would top McPherson’s by $1 million. Going that route would result in Boswell’s 2025 salary cap charge increasing from $4.72 million to $6.16 million, if only the $1.82 million from 2026 and the additional $1.06 million are combined into a signing bonus.
The Steelers could also move $1.82 million from 2026 into 2025, paying Boswell an additional $1.06 million in new money, and also turning all but $1.255 million of his $3.12 million base salary into one giant signing bonus. Going that route would still result in Boswell’s 2025 cash haul being $6 million, however, his new salary cap charge would be $5.2275 million. Such a move would result in Boswell’s 2026 cap charge being $4.765 million, up slightly from $4.72 million.
In totality, the Steelers could move some money from 2026 for Boswell and add a little new money in 2025 on top of that to satisfy him for this coming season. Next offseason, the Steelers would then need decide if they want to extend Boswell’s contract, cut him, or increase his 2026 cash total one more time.
Boswell is currently on top of the kicking world as he made the Pro Bowl for the second time last season and also earned his initial first-team All-Pro nod. In 2024, and for the fourth time in 10 seasons with the Steelers, Boswell connected on 93-plus percent of his field goals. He went 41-of-44 in 2024, leading the NFL in made field goals and points scored. In doing so, he became the first Steeler in NFL history to lead the league in points for a season. He also went 35-of-35 on extra points in 2024, only his fourth clean sheet in that stat of his career.
Notably, Boswell also connected on 13-of-15 field goal attempts from 50-plus in 2024, continuing to rewrite the Steelers’ record books. In fact, his 13 makes in 2024 would have been a new NFL record in any season but this past one. Prior to 2024, the NFL record was 12, but three kickers made 13 or more, with the Dallas Cowboys’ Brandon Aubrey hitting 14 of 17 attempts, setting the new mark. For his NFL career, Boswell is now good on 88 percent of his field goal attempts, including 82.7 percent from 50-plus. He ranks fourth in NFL history in career field goal percentage, not far from third place. Baltimore Ravens K Justin Tucker remains in first place at 89.1 percent.
I am not going to guarantee that the Steelers will do anything with Boswell’s contract this offseason. That said, I will not be surprised one bit if we see them do something that results in Boswell getting more cash in 2025 and at least topping the $5 million that McPherson is scheduled to earn.
The Steelers do have a precedent of sorts when it comes to moving money forward for a player who still has more than one year remaining on his contract. That player and instance they last did something like that with was WR Antonio Brown in 2016.
