Omar Khan, Steelers vice president of football and business administration, and Kevin Colbert have an arduous task ahead — get Pittsburgh under the estimated $180.5 million salary cap by the start of the new league year on March 17.
The first order of business was to restructure the contract of defensive lineman Cam Heyward. The four-time Pro Bowler signed a new five-year contract worth $71.5 million before the 2020 season began.
According to a source of NFL Network’s Ian Rapoport, on Monday, the Steelers converted Heyward’s roster bonus and base salary into a signing bonus, which created an estimated $7 million in cap space. He’ll still make $10.5 million this season.
Per OverTheCap.com, Pittsburgh is over the cap by $26 million, but that number isn’t accurate, as it doesn’t take into account Heyward’s restructure or Maurkice Pouncey’s retirement.
However you slice it, the front office has a long road ahead to get cap compliant. Only the Los Angeles Rams, Philadelphia Eagles and New Orleans Saints are in worse shape than Pittsburgh.
The #Steelers did a basic conversion restructure on DL Cam Heyward’s contract, source said, and he’ll still make $10.5M this season. But roster bonus and base were converted to a signing bonus and created about $7M in cap room.
— Ian Rapoport (@RapSheet) February 22, 2021
