Steelers get to work on restructuring contracts to save cap space


With the Steelers entering the offseason some $25 million over the 2012 salary cap, they have a lot of moves to make before the league year begins on March 13. Some of those moves will be releasing players, as they did on Wednesday with Bryant McFadden and Arnaz Battle. And some of those moves will be restructuring existing players’ contracts.

Ed Bouchette of the Pittsburgh Post-Gazette reports that Steelers linebackers LaMarr Woodley and Lawrence Timmons became the first two players to restructure contracts, when each of them agreed to re-do the deals they signed just six months ago.

Not all of the specifics of the restructured contracts are available, but Bouchette reports that Woodley shaved about $6.6 million off his cap number without reducing his total pay by converting a roster bonus and most of his base salary to a signing bonus that will be prorated over the remaining years of the deal.

Steelers safety Troy Polamalu and quarterback Ben Roethlisberger are also candidates to restructure their contracts to get the Steelers under the cap.

18 responses to “Steelers get to work on restructuring contracts to save cap space

  1. Polamalu should be paid by the # of concussions he receives. He’d be a rich man! Oops I mean by the amount of concussion like symptoms he gets during a season.

  2. This is why keeping Omar Khan would be a blessing for us and a great move for the Rams if they could pry him away.

  3. Moves like these are why I’m not worried about our ability to come in under that cap and also sign the players we need to sign (although I’ll start worrying if the Rams convince Khan to jump ship). I’m more worried about another year passing without addressing the serious deficiencies on our o-line.

  4. It should be easy to fix their cap situation.

    Just cut everyone who’s “old and slow”.

    Of course, that will mean replacing 3/4
    of the defense but, oh well…

  5. BREAKING NEWS: Beginning in 2012, the AFC is going to consist of the Steelers and Patriots. They will play each other 16 times in the regular season and then in the playoffs to determine the AFC representative in the playoffs. This was unanimously approved by all owners, and many believed this was already the format.

    Roger Goodell has stated that all other AFC teams will be eliminated, excluding the Kansas City Chiefs. They will still exist but won’t play any games.

  6. Hopefully they take the opportunity to rid themselves of the majority of one of the league’s absolute worst o-lines – especially Max Starks, Chris Kemoeatu, Willie Colon and Jonathon Scott.

    Time to blow up the entire botched experiment and start over. Whose genius idea was it to line up four or five massively overweight, immobile, unathletic linemen in a spread formation with 4 or 5 wideout sets? No one should be a bit surprised that Roethlisberger has ended every one of the past 5 years with broken bones and other significant injuries.

  7. That’s all well and good, but whatever they do, please extend Ike T Squared again. As long as they rely on that bum to “shut down” the other team’s top WR, the rest of us will just have to get used to hearing “Sixburgh” over and over again. While they’re at it, William Gay needs more $ too.

  8. @06jonjon — In the case of Woodley and Timmons, the players (or their agents) most likely made it known very early on that they would be more than willing to restructure their contracts. The players get two benefits:

    1) More cash up front (although in today’s very low interest environment, that is not too valuable)

    2) More job security on the back-end of a contract as there would be more dead money in Year 5 or Year 6 if a player was cut.

    For a player like Hines Ward whose production has cratered, it would be a management decision to come to Ward and his agent and say — we’ll either cut you or resign you at 70% less pay — your choice.

  9. See folks, that’s what happens when players WANT to play with the team they are on. Of course they still get their money, it’s just either delayed or handed to them up front.

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