The team has turned $5.4M of Woodley's salary into signing bonus - pushing $4.05M in cap charge off of this year.
The Steelers have restructured the contract of outside linebacker LaMarr Woodley, saving $4.05 million against this year's salary cap. Multiple sources are reporting it Tuesday morning, just hours before the start of free agency.
The timing can't be a coincidence; after signing Ramon Foster to a three-year deal Monday and appearing to be roughly on pace to be able to sign a draft class, the one final restructuring move could be a prelude to a contract offer to another player.
Who might that be, is the tantalizing question.
It may not be anyone at all, but if the decision to restructure Woodley was made in the hopes of having cap space to sign a player, odds seem to favor cornerback Keenan Lewis. While not garnering much by way of headlines in the NFL's tampering period of the last few days, Lewis's services clearly could command $7-8 million a year on the open market, based on numbers of recent free agent cornerbacks.
It also could be for a player as of now unmentioned and not with the Steelers in 2012.
Maybe they're just looking to have some cap room in the event of injury down the line, and this is one last move they wanted to make before the start of the 2013 league year.
Stay tuned to Behind The Steel Curtain, it's going to be a wild day in the league.