The five toughest contract situations for the Steelers in 2024
The Pittsburgh Steelers, a team with a storied history and a robust fan base, are finding ways to navigate the financial waters under new general manager Omar Khan. Those waters have become increasingly turbulent as the NFL sees players sign larger deals daily.
Those contracts are the backbone of any sports franchise and can either buoy a team to greatness or anchor it in mediocrity. As the Steelers prepare for the 2024 season, these three contract situations could potentially harm their salary cap and overall team performance heading into the future.
Russell Wilson & Justin Fields
Khan looks like a “con artist” in the way the Steelers aren’t keeping up with the Joneses by paying $50 million or more per year for their starting quarterback. At least not yet.
On paper, Wilson and Fields look like total steals due to their low cap numbers. Wilson only accounts for a $1.2 million cap charge for Pittsburgh in 2024, which is actually lower than both of this year’s top draft picks Troy Fautanu and Zach Frazier.
Fields comes in at a $3.2 million price tag, even lower than QB3 Mason Rudolph‘s cost last season. In fact, Mitchell Trubisky and Kenny Pickett, the other two quarterbacks on last year’s roster that are no longer with the team, still account for $4.6 million and $3.7 million of the 2024 salary cap accordingly.
That makes Wilson’s and Fields’ contracts sweetheart deals, which is fine and dandy for now, but neither of the two quarterbacks are signed beyond the 2024 season. The Steelers will end up back in the spending race should one of the two prove they can lead the franchise for seasons to come.
Should one of them prove they need to be among the league’s top ten paid passers, the price tag will range on between $40 million and $55 million per season on average, making the other contracts discussed below tricky to handle.
Trading for a wide receiver
One of the larger storylines circulating over the last few weeks is Pittsburgh’s pursuit of adding another wide receiver to their roster. At this point of the calendar year for pro football, the only logical page for an upgrade at the position is by making a trade.
The most speculated trade rumor involves San Francisco 49ers wide receiver Brandon Aiyuk, who was reportedly offered $28 million per season by the Steelers by a leaked source. The New England Patriots were also in on attempting to acquire Aiyuk, reportedly offered more than $30 million per season.
Should the Steelers pull the trigger on a trade, it will have further ramifications on their salary cap moving forward, and could hinder the progress of signing other players who could become unrestricted free agents in the next couple of offseasons, including Pat Freiermuth and George Pickens.
Cole Holcomb
Cole Holcomb joined the Steelers as a promising linebacker known for athleticism and versatility. His three-year, $18 million deal in the 2023 offseason was initially seen as a prudent investment, adding depth and potential to the Steelers’ linebacker corps.
However, unforeseen circumstances have altered the perception of Holcomb’s contract. The signing of Pro Bowl linebacker Patrick Queen and the drafting of All-American linebacker Payton Wilson, which improved the Pittsburgh Steelers Game Lines, have rendered Holcomb’s contract somewhat redundant. Compounding this issue is Holcomb’s recovery from a significant knee injury suffered last November, raising concerns about his ability to return to form.
Holcomb accounts for a $7.6 million cap charge in each of the next two seasons, but the Steelers would only recoup $1.2 million in 2024 by releasing him. In 2025, the cap savings climbs to an even $6 million.
Holcomb’s contract exemplifies the unpredictability inherent in professional sports. Injuries and unexpected roster changes can quickly transform a seemingly beneficial contract into a liability. This situation underscores the importance of strategic planning and adaptability in roster management for the Steelers.
Cameron Heyward
The longest-tenured Steeler is also the second-highest paid player on the roster. As a locker room leader and a force on the field, Heyward is among the NFL’s elite defensive linemen and will go down in history as a great player in Pittsburgh lore.
However, Heyward’s 2023 season was impacted by injuries and his production took a dip. After posting back-to-back double-digit sack seasons, Heyward missed six games during the regular season and only brought down opposing quarterbacks twice. He would miss the Pro Bowl for the first time in six seasons.
Entering a contract season, the lingering doubt surrounding Heyward is if a 35-year-old athlete should be extended. His previous extension, which was for four years and $65.6 million, doesn’t appear to be a wise business move at this time, considering his 2023 and 2024 cap hits averaged $22.3 million each.
That’s a bitter pill to swallow for an aging player who’s production slipped due to injury. The Steelers would be wise to take a wait and see approach before re-signing the legend to a large deal.
Najee Harris
Running backs in the NFL has been devalued over the last several years and Harris’ situation is no different in 2024. The Steelers declined what appeared to be an affordable fifth-year option on Harris’ rookie contract, scheduling the steady back to become an unrestricted free agent next season.
The current devaluation of the position isn’t the only factor working against Harris, as teammate and fellow running back Jaylen Warren is scheduled to become a restricted free agent next year as well, meaning Omar Khan must make multiple decisions for Pittsburgh’s backfield in the near future.
Working in Harris’ favor is that he showed up to training camp without any holdouts or “hold ins” and has quietly done his job: something that the former Alabama prospect has been adept at through the years. Harris has played in every Steelers game since joining the franchise in 2021 and has amassed 1,000 rushing yards in each of those seasons.
Dependability and production can only make a contract extension for Harris that more difficult of a decision as time goes on.
Broader implications for the Steelers
The Steelers’ contractual challenges in 2024 extend beyond these three players, reflecting a broader trend in the NFL where financial management has become as critical as on-field performance. While designed to promote parity, the league’s salary cap often forces teams to make difficult decisions that balance short-term gains against long-term stability.
Salary cap management
Effective salary cap management is paramount for sustained success in the NFL. The Steelers’ current financial commitments underscore the need for careful planning and foresight. Overpaying for talent can lead to negative consequences, restricting a team’s ability to build a balanced and competitive roster.
Strategic considerations
To navigate these challenges, the Steelers must adopt a strategic approach that prioritizes flexibility and adaptability. This includes:
- Drafting and Development: Investing in the draft and developing homegrown talent can provide a cost-effective means of building a strong roster.
- Contract Restructuring: Exploring opportunities to restructure existing contracts can alleviate immediate cap pressures and provide financial breathing room.
- Prudent Free Agency Signings: Targeting value signings in free agency can add depth and address specific needs without overextending financial resources.
- Injury Management: Implementing comprehensive injury prevention and rehabilitation programs can mitigate the risk of losing key players to long-term injuries.
Final Thoughts
The Pittsburgh Steelers face a complex landscape as they navigate the 2024 season, with contractual obligations that pose significant challenges. The contracts of the players mentioned highlight the intricacies of NFL financial management, where balancing talent retention with fiscal responsibility is a delicate dance.
For the Steelers, success in 2024 and beyond will hinge on their ability to adapt to these financial realities while maintaining their competitive edge. Embracing strategic planning and innovative approaches to roster management can help the Steelers overcome these challenges and continue their pursuit of excellence on and off the field.
