Ian Whetstone initially reported Miller's deal will save the team $3.3 million against the salary cap this season. No other terms were immediately available, but both moves should help the Steelers reduce their salary cap number, which ESPN and others had reported was approximately $15 million over compliance.
The Steelers need to be under the $133 million salary cap by 4 p.m. ET March 11. They added $9.75 million to it Monday when they applied their transition tag to outside linebacker Jason Worilds. The agent of free safety Will Allen also announced the 10-year veteran will return with the team in 2014 via a contract signed Wednesday. Terms of that deal weren't released.
The Steelers clearly have other moves coming, but Polamalu and Miller were two good places to start. Not only were they effective players in 2014, but both had significantly large roster salaries, and it was clear the team faced an extend-or-release situation with both of them.
Veteran cornerback Ike Taylor may not be so lucky. It appears he's next in the Steelers' work to get within cap compliance this week, and the team can save $7 million by releasing him. An extension doesn't seem like a great option, given Taylor's age, but the lack of depth at the cornerback position likely means the team will approach Taylor about a paycut.
Polamalu gets no new money to extend his deal by 2 years. #Steelers converted $6.75M of his $8.2 M '14 salary into bonus. Gets $1.5 M base— Ed Bouchette (@EdBouchette) March 5, 2014