It could have been the most joyous announcement of a salary reduction in league history.
Steelers cornerback Ike Taylor was happy enough with the fact he is going to finish his career in Pittsburgh (his words and implication), it apparently wasn't as important his salary was reduced from $7 million in 2013 to $2.75 million.
He's happy he gets to finish his career as a "Rooney" and a "LeBeau," giving some love to the Steelers' ownership and defensive coordinator Dick LeBeau.
Taylor likely wasn't guaranteed a starting job, but his roster spot is likely secured for the upcoming season. The added cap space likely wasn't the primary motivator, as the 35-year-old Taylor showed some wear by the end of of the season, but working in something of a rotation with Cortez Allen and William Gay may be just one part of a movement to revamp the Steelers' secondary.
Next would be using the cap space they have available to bring in some more help.
The Steelers are said to be sniffing around free agent cornerbacks Alterraun Verner and Nolan Carroll (check out BTSC's Free Agency Tracker page for the latest) with the latter being far more likely than the former. Verner will carry with him a significant price tag, while Carroll, not outstanding, is a much more affordable option for an experienced cornerback without significant miles on his tires.
This position should also be considered a critical area for the Steelers to address in the upcoming NFL Draft.