Looking at the contract numbers of Steelers players from Day 3 of free agency

The Pittsburgh Steelers got business going on Monday as they began to answer some of the questions with their 2022 roster. The second day was more of the same with the Steelers signing more of their own players as well as agreeing to terms with outside free agents. When the league year officially kicked 4 PM on Wednesday, the Steelers continued doing busniness, this time releasing a player and then adding another.

So after more business on Wednesday, how much will it cost the Steelers in 2022 and beyond?

Based on reports, let’s check out exactly where these contracts fell in terms of the salary cap for 2022. While some numbers over the last three days will be precise, others will have to be speculatory based on the overall contract and not knowing the exact breakdown of signing bonuses and the base salaries. For a recap of the salaries from Monday and Tuesday, check them out here:

Zach Banner

Was due to cost $6.625 million

It’s a move many saw one of the horizon. With a $6.625 million salary cap hit for 2022, the Steelers could not afford to have Zach Banner, a player who last started a game in Week 1 of 2020, be the highest offensive player under contract in regards to the salary cap. Carrying a dead money hit of $1.625 million, Banner gives the Steelers $5 million of cushion towards the salary cap. Normally this amount would come in less because it would bring another player up onto the top 51, but with the Steelers adding another player via free agency the same day, there’s no reason to have to account for that with each player as Banner is simply the player out of the top 51 as Myles Jack comes in.

2022 salary cap savings (no displacement*): $5 million

*with an addition and subtraction the same day, they simply displaced each other

Myles Jack

Reported $16 million for two years

After being released by the Jacksonville Jaguars, Myles Jack was a surprise player on the market. If the Pittsburgh Steelers had a plan at linebacker, it had to change once Jack was available. A two-year deal for $16 million, I was surprised that only half of it is paid out in the first season. I expected a little bit more of a signing bonus for Jack on top of his $1.5 million base salary, but the structure actually lands more in the Steelers favor by keeping his total salary cap hit less than what the Steelers gained on Wednesday when they released Zach Banner.

Estimated 2022 salary cap increase (no displacement*): $4.75 million

*with an addition and subtraction the same day, they simply displaced each other

After looking at all five of the players the Steelers reportedly added to their team on Monday, it cost approximately $12.8 million against their salary cap space for 2022. For just Tuesday, the three players came to an estimated total of approximately $6.25 million. After Wednesday, the Steelers saved on the salary cap with their two moves and added $0.25 million, giving a three-day total of approximately $18.75 million. Remember, these values count after displacement, meaning they only count towards the salary cap the difference in salary of the player they knocked out of the top 51. (These numbers also do not include the release of Joe Schobert)

It’s hard to say if the Steelers will be slowing down when it comes to free agency. The Steelers will have to eventually make some other roster moves at some point. With their remaining cap space, not including the salaries of Miles Killebrew and Arthur Maulet which have not been officially reported, the Steelers remaining salary cap is below what they will need for signing their draft class, the final two players on the roster come September, paying their practice squad, and having money to carry into the season for regular business. But notice three of those things do not come into affect until September, so even a last-minute contract extension, a restructure, or a higher-salaried player not making the roster could help to get to this amount even after the preseason is concluded. So for now, the Steelers still have the ability to manage things in regards to the 2022 salary cap.