Restructuring of OT Willie Colon's Contract Saves $2.85 Million

News broke out Tuesday morning of OT Willie Colon's willingness to prorate $3.8 million of the $4.5 million he's owed in 2012 over the remaining four years of his deal. Saving the team another $2.85 million against its 2012 salary cap is good progress, but there's still $5-6 million to go, according to Football Outsider writer Brian McIntyre.

The total savings created so far this off-season through player releases and contract restructures is around $18 million - but freeing up $5-6 million more would only reach the estimated 2012 salary cap. The total savings figure the Steelers are aiming for will include all restricted free agent tenders, rookie contracts and a cash fund for in-season transactions.

And all of that is before a possible franchise tag for WR Mike Wallace. With that looming as a possibility, the Steelers still have a lot of work to do to get to the cap point they'll need to field the strongest team they can.

Reports have circulated that QB Ben Roethlisberger and OLB James Harrison are in discussions for contract restructures as well. Roethlisberger seems the most likely, considering how often he's stated his desire to win ahead of individual accolades. If that's the case, he'd help his team's cause by having the Steelers tack on another year or two to his current deal, and then spreading money from this season across the full duration just like the other restructures.

Harrison may be a tougher bet, considering he restructured last season. But incidentally, restructuring did make his one-game suspension cost far less than it would have been otherwise.

The top 51 contracts on each team must be below the salary cap by 4 p.m. ET March 13. This may go down to the wire, but it seems like the Steelers have a plan in place and are sticking to it.

X
Log In Sign Up

forgot?
Log In Sign Up

Forgot password?

We'll email you a reset link.

If you signed up using a 3rd party account like Facebook or Twitter, please login with it instead.

Forgot password?

Try another email?

Almost done,

Join Behind the Steel Curtain

You must be a member of Behind the Steel Curtain to participate.

We have our own Community Guidelines at Behind the Steel Curtain. You should read them.

Join Behind the Steel Curtain

You must be a member of Behind the Steel Curtain to participate.

We have our own Community Guidelines at Behind the Steel Curtain. You should read them.

Spinner

Authenticating

Great!

Choose an available username to complete sign up.

In order to provide our users with a better overall experience, we ask for more information from Facebook when using it to login so that we can learn more about our audience and provide you with the best possible experience. We do not store specific user data and the sharing of it is not required to login with Facebook.

tracking_pixel_9341_tracker