Updating the Steelers’ salary cap situation as we wait for more contract details

The Pittsburgh Steelers are continuing to add to their roster for the 2023 season. While reports come in of these deals well before they are official, even after pen is put to paper it can sometimes take some time to know the exact financials within the contract. Relying heavily on reliable salary cap websites such as overthecap.com (OTC) or spotrac.com, when they are able to report a player’s contract numbers over the specific years I then update the salary cap situation with a more precise number.

Since the last cap update, the Steelers have added four players but only one has their contract numbers reported. In fact, the other three players, Zach Gentry, Keanu Neal, and Breiden Fehoko, weren’t even officially announced by the Steelers until after I began writing this article. Part of the reason I’m going ahead and doing a salary cap update because as soon as this is published it seems like new numbers come out within minutes. And since I’ve been waiting for these new numbers for over a week, I want to get the process rolling.

The one player who was added with their contract since the last update is offensive tackle Le’Raven Clark. Signing a veteran salary benefit contract, Clark has a base salary of $1,165,000 for 2023 but counts at a reduced rate of $940,000 against a salary cap. In addition to this, Clark was given a $50,000 signing bonus which also adds to the cap number, ultimately leaving it at $990,000.

Remember, 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.

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 2023. When it comes to the estimated amounts, I use their overall contract to estimate what their salary cap hit will be for 2023. When their exact numbers are reported I will adjust things accordingly. Until then, it is simply my best guess.

(NOTE: Unless indicated, all reported salaries displaced a $870k salary.)

Steelers salary cap space heading into free agency: Approximately -$1.4 million

William Jackson III: Saved $12.1875 million salary; After displacement: +$11.3175 million
Carlins Platel: Salary not in the top 51: -$0
Patrick Peterson: Reported $4.225 million; After displacement: -$3.355 million
Damontae Kazee: Reported $2.125 million; After displacement: -$1.255 million
Nate Herbig: Reported $2.54 million; After displacement: -$1.67 million
Cole Holcomb: Reported $2.72 million; After displacement: -$1.85 million
Minkah Fitzpatrick: Saved $10.065 million; No displacement: +$10.065 million
Elandon Roberts: Reported $2.3325 million; After displacement: -$1.4625 million
Myles Jack: Saved $8 million; After displacement: +$7.13 million
Larry Ogunjobi: Reported $4.933333 million; After displacement*: -$4.059333 million
Isaac Seumalo: Reported $4 million; After displacement*: -$2.740582 million
ADJUSTMENT (Dead money clarification): +$0.49333 million
James Pierre: Reported $1.3 million; After displacement*: -$0.401911 million
Le’Raven Clark: Reported $0.99 million; After displacement*: -$0.081194 million
Zach Gentry: NO REPORT
Keanu Neal: NO REPORT
Breiden Fehoko: NO REPORT

Approximate salary cap space: Approximately $10.7 million

*The salaries displaced by these four contracts were $874,000 (Jaylen Warren), $876,084 (Calvin Austin III), $898,089 (Mark Robinson), and $908,806 (Connor Heyward).

So where does this number compare to those reported by the major salary cap websites (at the original time of publishing, before any potential updates)?

According to overthecap.com (OTC), the Steelers are $10,728,798 under the salary cap and has all the above contracts, missing Gentry, Neal, and Fehoko. Because of this, we have the exact same number.

Another credible salary cap website is spotrac.com, which has the Steelers at $10,888,085 under the cap. Spotrac now has the above contracts and has added the two other contracts they were missing in Tae Crowder and Jamir Jones. But Spotrac does not have the offseason workouts counting against the salary cap at this time and their dead money amount is incorrect. Additionally, Spotrac counts the potential dead money hit for players not in the top 51 even though it does not need to count against the cap at this time.

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 $3.4 million in cap space once figuring roster displacement now that the exact draft positions are known with the announcement of compensatory draft picks. But remember, the Steelers won’t need this amount until at least May. Also, the Steelers will need as much as an additional $13 million 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 as outlined in the following article:

Does something not make sense? Curious about any of the specifics? Leave your questions in the comments below and I will check in and do my best to answer them.