As of Thursday, the Pittsburgh Steelers needed to clear more than $8 million in cap space in order to comply with the salary cap. Part of that process apparently was to reduce the eight-figure franchise-tag number for linebacker LaMarr Woodley by giving him a long-term deal.
Woodley has announced via Twitter and Facebook (but apparently not “MyFace”) that he will retire in Pittsburgh and that he’s a Steeler “for life.”
He disclosed no details of the deal.
Quarterback Ben Roethlisberger has said that he’s willing to restructure his contract to help create cap space, a process that can be done without reducing compensation.
UPDATE: Per a source with knowledge of the situation, it’s a six-year, $61.5 million deal. He’ll make $18.1 million in 2011 and $27 million over two years, making him the second highest-paid Steeler of all time, behind only Roethlisberger. Adam Schefter of ESPN reports that the move created $3.5 million in cap space, which means that they still need to cut more than $4.5 million by 4:00 p.m. ET today.