Steelers Enter Offseason Way over Salary Cap
Omar Khan has some work to do, as the Pittsburgh Steelers need to trim over $30 million from their 2024 payroll to get under the salary cap.
The Pittsburgh Steelers will start their 2024 offseason in the red financially, as Omar Khan and company will have some work to do to get the team salary cap complaint and to make room to sign free agents.
The good news is that there is plenty of flexibility for Khan and Cole Marcoux, who took over many of the general manager’s former salary cap duties.
First, let’s start with the full bill. The Steelers start the offseason at approximately $15.2 million over the projected salary cap. The league has yet to officially set the cap ceiling, but it is expected to come in around $242.5 million. The current Steelers payroll includes the top 51 salaries (all that are counted in the offseason) that add up to $259.7 million
Before we get to the good news, it gets worse. While the Steelers would only need to clear a little over $15 million to get compliant in the offseason, they will need to clear over $34 million between now and the start of the 2024 season. That’s because things like their rookie draft pool, the end of the rule of 51, their practice squad, players that might be on the injured reserve list, and a buffer to make in-season moves aren’t counted in the offseason figure.
The good news is that there are some obvious moves the Steelers can make to free up some cap space. It seems likely that veterans Allen Robinson II ($11.9 million), Chuks Okorafor ($11.8 million), Patrick Peterson ($9.8 million) and Mitch Trubisky ($7.6 million) will either not return or will do so at reduced salary. The team can either extend or add void years to reduce the cap hit of defensive tackle Cam Heyward by almost $10 million (just don’t ask him to take a pay cut), and outside linebacker Alex Highsmith could save over $7 million with a traditional contract restructure.
With just a handful of moves, Khan and Marcoux can clear over $50 million in salary cap space, get the team under the cap, and make room to start signing free agents when that period opens in March.
PITTSBURGH STEELERS 2024 SALARY CAP
| Functional 2024 cap space (est.) | $34,104,314 | T.J. Watt | $30,418,694 |
| Cam Heyward | $22,406,250 | ||
| Estimated 2024 NFL salary cap | $242,500,000 | Minkah Fitzpatrick | $21,355,000 |
| Steelers 2023 salary cap rollover | $2,340,191 | Diontae Johnson | $15,833,334 |
| Steelers 2024 salary cap (est.) | $244,840,191 | Alex Highsmith | $13,933,000 |
| Larry Ogunjobi | $13,283,333 | ||
| Top 51 salaries | $259,700,564 | Allen Robinson II | $11,917,500 |
| Dead cap hits | $301,114 | Chukwuma Okorafor | $11,833,334 |
| James Daniels | $11,166,668 | ||
| Offseason cap space (est.) | $15,161,487 | Isaac Seumalo | $10,191,666 |
| Patrick Peterson | $9,775,000 | ||
| Draft pool | $3,112,827 | Cole Holcomb | $7,640,000 |
| End of rule of 51 | $1,830,000 | Mitch Trubisky | $7,556,666 |
| Practice squad (est.) | $4,000,000 | Mason Cole | $6,271,668 |
| In-season buffer/injured reserve (est.) | $10,000,00 | Nate Herbig | $5,460,000 |
| Chris Boswell | $4,720,000 | ||
| Elandon Roberts | $4,667,500 | ||
| Najee Harris | $4,151,460 | ||
| Damontae Kazee | $3,875,000 | ||
| Kenny Pickett | $3,836,701 | ||
| Broderick Jones | $3,778,719 | ||
| Keanu Neal | $2,710,000 | ||
| Joey Porter Jr. | $2,185,988 | ||
| Pat Freiermuth | $1,918,057 | ||
| George Pickens | $1,841,506 | ||
| Keeanu Benton | $1,666,619 | ||
| DeMarvin Leal | $1,414,608 | ||
| Dan Moore Jr. | $1,229,475 | ||
| Darnell Washington | $1,216,798 | ||
| Isaiahh Loudermilk | $1,135,072 | ||
| Calvin Austin III | $1,111,084 | ||
| Nick Herbig | $1,083,231 | ||
| Pressley Harvin III | $1,075,183 | ||
| Denzel Mims | $1,055,000 | ||
| Connor Heyward | $1,023,806 | ||
| Mark Robinson | $1,013,089 | ||
| Jaylen Warren | $989,000 | ||
| Jonathan Marshall | $985,000 | ||
| Kyron Johnson | $985,000 | ||
| Luq Barcoo | $985,000 | ||
| Dez Fitzpatrick | $985,000 | ||
| Marquez Callaway | $985,000 | ||
| Spencer Anderson | $934,446 | ||
| Devery Hamilton | $915,000 | ||
| Jalen Elliott | $915,000 | ||
| Trenton Thompson | $915,000 | ||
| Darius Rush | $915,000 | ||
| Rodney Williams II | $915,000 | ||
| Ryan McCollum | $915,000 | ||
| Cory Trice | $816,109 | ||
| Tyler Beach | $795,000 |
Salary figures from Steelers Now sources, the NFLPA, and OvertheCap.com.
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