With some numbers coming in from Steelers’ contracts, it’s time to once again check out their salary cap situation. The new contracts include Jordan Berry, Kalen Ballage, and the change to Eric Ebron’s contract.
As expected, Eric Ebron had four void years added to his contract according to overthecap.com. Surprisingly, Ebron’s base salary did not drop to the league minimum and is at $1.12 million for 2021. Ebron was given $4.88 million in a signing bonus which was spread out over five seasons at $976k per season. This reduced Ebron’s $8.5 million cap hit for 2021 down to $4.596 million, ultimately saving $3.904 million against the salary cap before displacement.
The contract for Kalen Ballage was pretty straightforward according to OTC and is $920k for one season. After displacement, Ballage will only count an additional $140k against the 2021 salary cap.
With Jordan Berry’s deal, he actually does not count as much on the 2021 salary cap as what he is being paid. Berry is set to collect $1.09 million but only count $950k against the cap. This is because his salaries qualifies for the veteran salary benefit.
What exactly is the veteran salary benefit? Here is an explanation given by frontofficenfl.com:
Veteran salary benefit: Formerly known as the minimum salary benefit, the veteran salary benefit allow teams to offer a “Qualifying Contract” to any player with at least four credited seasons at a reduced salary cap hit. Under this provision, a qualifying contract is a one-year deal worth the minimum base salary applicable to a player with his number of credited seasons, plus $137,500 in additional compensation (i.e., signing bonus, roster bonus, incentive, etc. — amount begins to increase in 2022). These contracts are charged against the salary cap at the rate of a player with two credited seasons that league year.
Berry is now the fourth player to receive the veteran salary benefit for the 2021 Steelers according to overthecap.com.
Now where do the Steelers currently stand with the 2021 salary cap? Before free agency kicked off, the Steelers were little more than $6 million under the salary cap. Since then, the number has fluctuated due to various moves.
To determine how much each player changes the Steelers’ salary cap space, their cap number must be adjusted due to roster displacement. As a reminder, roster displacement is taking into account only the top 51 contracts for a team count towards the salary cap during the offseason. As a larger contract comes on the books, it bumps a smaller contract out of the top 51. Therefore, it’s only the difference in those contracts that increases the salary cap number. With the last update, the Steelers displaced the last $660k salary and have now moved into the $780k group, meaning displacement amounts will be slightly lower.
Here is the approximate breakdown of the Steelers salary cap space based on their recent moves by my own calculations. The numbers are strictly the salary cap hit for each player in 2021.
Steelers salary cap space heading into free agency: Approximately $6 million
Ray-Ray McCloud: Reported $1 million salary; After displacement: -$0.34 million
B.J. Finney: Reported $987,500; After displacement: -$0.3275 million
Cam Sutton: New report of $1.7 million; After displacement: -$1.04 million
Zach Banner: Reported $2.875 million; After displacement: -$2.215 million
Vince Williams: Saved $4 million salary; After displacement: +$3.34 million
Chris Wormley: Reported $1.6 million; After displacement: -$0.94 million
JuJu Smith-Schuster: Reported $2.4 million; After displacement: -$1.74 million
Tyler Simmons: Reported $660k; not in the top 51: -$0
Joe Haeg: Reported $1.5 million; After displacement: -$0.84 million
Miles Killebrew: Reported $987,500; After displacement: -$0.3275 million
Steven Nelson: Saved $8.25 million salary; After displacement: +$7.59 million
Cassius Marsh: Reported $950,000; After displacement: -$0.17 million
Eric Ebron: Reportedly saved $3.904; No roster displacement: +$3.904
Tyson Alualu: No exact report
Jordan Berry: Reported $950,000; After displacement: -$0.17 million
Kalen Ballage: Reported $920,000; After displacement: -$0.14 million
Rashaard Coward: No report
Matthew Sexton: Not expected to be in the top 51
Approximate salary cap space: Approximately $12.5 million
Note: Miles Killebrew was the final contract displace a $660k salary. From Cassius Marsh on the displacement is a $780k salary.
So where does this number compare to those reported by the major salary cap websites?
According to overthecap.com, the Steelers are $11,789,086 under the salary cap. OTC has all of the above contracts on the books, but for some reason they have the number lower than it should be. Even when adding up the Steelers’ top 51 salaries and dead money owed this year, their own numbers don’t make sense to come in where they are.
Another credible salary cap website is spotrac.com, which has the Steelers at $9,174,203 under the cap. Spotrac does not have contract numbers for McCloud, Finney, Billage, and Ebron. With Ebron’s savings being much more than the reduction of the other three players, their number comes in lower than what is expected.
The return of Tyson Alualu has not had any official numbers currently reported. NFL Network’s Tom Pelissero reported some details to the deal, but the exact breakdown for salary cap purposes is still unknown.
Update to the wild story from Saturday night: Tyson Alualu’s deal with the #Steelers is two years, $5.5 million with $1.925M guaranteed, per source. Pretty close to the deal he ended up turning down in Jacksonville. https://t.co/9EplSwSCvm— Tom Pelissero (@TomPelissero) March 30, 2021
Most likely, this means Alualu has a $1.075 million base salary for 2021 and a $1.925 million signing bonus. This leaves $2.5 million as a base salary for 2022. If this is indeed the case, Alualu’s cap hit for 2021 would be $2.0375 million and would cost $1.2575 against the cap after displacement. This would have the Steelers salary cap room at approximately $11.3 million.
While the Steelers are going to need cap space for a number of things this offseason, it doesn’t have to be at this time. Following the NFL draft, the Steelers will begin signing their draft picks and are estimated to need no more than $2.75 million in cap space once figuring roster displacement. But remember, the Steelers won’t need this amount until at least May. Also, the Steelers will need as much as an additional $10 million (a very high estimate, with $7 million coming in on the low end) come September when they need to account for all 53 players on the roster, sign their practice squad, and have some carryover in order to do business throughout the year.
So the Steelers now have a lot more breathing room under the salary cap, at least for now. Other moves could still be on the horizon as the Steelers have plenty more to do to shape their 2021 roster. It might not be long before you hear from me again as things continue to change.