NFL's free agency is right around the corner, with the legal tampering period starting Monday at noon, followed by the official start to free agency set for Wednesday at 4:00 p.m. The Steelers have already been a national focus in free agency, as teams are permitted to speak with players that have been cut from other teams prior to free agency.
With all the excitement that is bound to take place in the coming days, let's take a look five areas of focus to give you a clearer picture of what's to come:
THE SALARY CAP SITUATION
First, let's start with a base for just how much the Steelers can do in free agency. After all, the NFL has a hard salary cap, which forces general managers such as Omar Khan to be creative with how the funds are allocated on the roster.
For a quick education on how cap space is calculated, the team's top 51 contracts (in terms of value) and all dead money has to be under the league's imposed cap. Each team gets to roll over any unused cap space from the previous season, which obviously helps in creating space.
According to Spotrac, the Steelers' top 51 contracts and dead money add up to $232.1 million. The league's cap for the 2024 season is $255.4 million, plus the Steelers are rolling over just a bit more than $3 million of unused cap space from 2023. So, with the team's new cap figure at $258.4 million, the Steelers have approximately $26.3 million in cap space (at the time this article is published).
There are multiple sites that track these figures, including OverTheCap.com, which currently projects about $28.4 million in cap space for the Steelers. Either way, you have a general idea of what kind of space the Steelers have heading into free agency.
Before we move on, let's contextualize this cap space to give you an idea of what Khan may be able to do in the coming days. Heading into last year's free agency period, the Steelers had around $11 million in cap space, which is significantly less than what they have this year. And, Khan was able to sign a slew of players in free agency, including Patrick Peterson, Isaac Seumalo, Nate Herbig, Elandon Roberts, Cole Holcomb, Larry Ogunjobi, Damontae Kazee and Keanu Neal, and also acquired Allen Robinson via trade.
The Steelers can always create more room by restructuring contracts. In case you aren't aware how that works, it's when teams take a certain amount of money from the upcoming salary and convert it into signing bonus money spread evenly across the remaining years of the contract. When the Steelers give big, long-term contracts to players such as T.J. Watt, Minkah Fitzpatrick and others, they structure them in a way so they can be restructured at some point down the road. When done right, restructuring contracts isn't gross negligence with handling the cap, or "kicking the can down the road." It's all pre-calculated by Khan, assistant GM Andy Weidl, etc.
In other words, with the current cap space and having the ability to restructure contracts such as Watt, Fitzpatrick, Ogunjobi or Alex Highsmith, Khan should have plenty of space to do everything he needs to improve the roster.
WHAT'S ALL THIS RUSSELL WILSON TALK?
With the Steelers in the market for not just one but multiple quarterbacks, there will be lots of noise with this team at the most important position in the game. For all the rumors that have been out there, we now have some substantive with one player in free agency.
The Steelers have already met with former Seahawks and Broncos quarterback Russell Wilson, and according to some reports, the meeting was lengthy and went quite well. Sometimes there's just smoke, but in this case, there's an actual fire. The only question is how serious the Steelers are with signing a player like Wilson.
There's no denying the fact that Wilson's time in Denver was ... well-documented. No matter who thinks who was at fault for the reason why the Broncos were willing to eat $85 million in dead money to make him go away, it's enough reason for Khan, Mike Tomlin, Art Rooney II and pretty much every single soul on the South Side that helps make decisions do their homework on the guy.
Wilson is a quarterback that will get Hall of Fame consideration when he decides to hang up his cleats, but his best days are behind him. And, if there's a chance of bringing a guy into the locker room that will create division, they'll need to move on. In other words, should the Steelers sign Wilson, it obviously means they don't think he'll be a problem.
Also, if the Steelers were to sign Wilson, he will not automatically supplant Kenny Pickett, according to team sources. Any quarterback that is signed will be brought in to compete with Pickett. The Steelers have every intention of giving Pickett a chance to take a significant step forward in his third season. But, Khan also has a job to do. He has to make sure that there's a contingency plan in 2024 should Pickett fail. Remember, this team is out to win every single year. A quarterback such as Wilson has enough left in the tank to put pressure on Pickett.
To use a Tomlinism, the Steelers will not grade Pickett on a curve anymore. Any quarterback that's added to the room -- whether it be Wilson, Mason Rudolph, Justin Fields, Ryan Tannehill or anyone else -- will be brought in to be ready and able to start in case Pickett fails at any point this season. Best case scenario would be for Pickett to prove himself and the Steelers right in all of this. But, with the decision of picking up a fifth-year option looming next offseason, Pickett's running out of time to prove himself. That's why the Steelers are willing to talk to quarterbacks such as Wilson, ask the Bears about Fields, etc.
At the end of the day, re-signing Rudolph is still the most likely addition to the quarterback room. But, meeting with players such as Wilson are part of the free agent process. They've got to have, as Khan put it in Indianapolis, "every avenue" covered.
WHAT OTHER POSITIONS COULD BE SIGNED?
Quarterback isn't the only position the Steelers need to address in free agency. In fact, we could see another offseason in which we see the Steelers be very active. The Steelers could really afford to upgrade center, wide receiver, inside linebacker, safety and cornerback, while also being open to adding significant players at just about any other position.
Center, inside linebacker and cornerback are the three positions I'd expect the Steelers to prioritize in free agency. Herbig is currently the leading option at center. The Steelers really could use a significant upgrade there. They've already kicked the tires on the position by meeting with former Pro Bowl center Mitch Morse, who was cut by the Bills as a cap casualty, and there are several starter-capable centers on the market including Lloyd Cushenberry III, Aaron Brewer, Tyler Biadasz and Coleman Shelton. Connor Williams is also a player to watch. He's undoubtedly the best center in the class, but is coming off a torn ACL and won't be ready for the start of the season. It'll be interesting to see how his market plays out.
The Steelers have Holcomb, Roberts, Mark Robinson and Jeremiah Moon as options right now, but really could afford to look at the upcoming class of off-ball linebackers. There's talent at every tier of the position, starting with Patrick Queen, Frankie Luvu, Lavonte David, Jordyn Brooks and Bobby Wagner, and then looking at some more affordable guys such as Jerome Baker, Azeez Al-Shaair, Devin White, Josey Jewell and Blake Cashman. A reunion with Kwon Alexander could be interesting, but he's coming off a major injury, so that's not a foregone conclusion.
Cornerback is another deep position. And with the Steelers cutting Patrick Peterson and Levi Wallace expected to sign elsewhere, the Steelers need more than just Joey Porter Jr., Cory Trice Jr. and Darius Rush at cornerback. Like linebacker, there's a slew of options for the Steelers over multiple price points, including Kendall Fuller, Chidobe Awuzie, Stephon Gilmore, Steven Nelson, Kenny Moore II, Adoree' Jackson, Keisean Nixon, Sean Murphy-Bunting, Emmanuel Mosley and more.
One thing I wouldn't expect is for the Steelers to be big spenders in free agency. Last year, the Steelers were rumored to be big players in a rich off-ball linebacker free agent class, but ultimately did not fork out the big bucks for the likes of Tremaine Edmunds and others. They opted to sign guys such as Holcomb and Roberts, and were initially rewarded for that as the position was much improved on the field prior to Holcomb and Alexander going down with season-ending injuries.
Regardless of what you read on social media, don't expect the Steelers to play at the top of the market at any position. They'd much rather spread out their free cap space and add quality NFL players over several positions rather than swing for the fences on one or two big-name guys. That way, the Steelers have all of their needs taken care of so they can go into the draft with as much flexibility as possible to draft the best player available in each round, regardless of position.
WHAT ABOUT THE TRADE MARKET?
This might the area in which the Steelers take a bigger swing, should anything actually materialize in the trade market. Khan hasn't pulled off many trades since he first took a seat in the GM's chair. But, there are a couple things to watch out for, though I'd err on the side of caution here.
The Chiefs applied the franchise tag to cornerback L'Jarius Sneed, but did it with the intention of trying to trade him and get something in return. The Steelers have a gigantic need at cornerback, and have been rumored to be "open to listening" to offers for Diontae Johnson. Based on the Chiefs' wild inconsistency at receiver last season, they could be interested in a receiver of Johnson's caliber.
Johnson is one of the league's best route runners and is elite at gaining separation. With a quarterback of Patrick Mahomes' caliber, Johnson could be an unquestioned Pro Bowl player, maybe even an All-Pro. Remember, this was a guy who caught 107 passes for 1,161 yards and eight touchdowns in 2021, and that was with Matt Canada as offensive coordinator and Ben Roethlisberger playing in his final season. Don't let the last couple years fool you. Johnson could be one of the league's most productive receivers with an elite quarterback throwing him the football.
Perhaps the Steelers and Chiefs work out a trade that includes Johnson and Sneed. Both players are under contract for only the 2024 season. There'd probably have to be draft picks included, but the Steelers have a legitimate NFL player to offer in trade capital. And, Johnson's $15.833-million cap hit isn't too far off from Sneed's $19.8-million cap hit.
Again, I don't foresee a trade like this happening. And, I haven't even touched on the Fields rumors. It's very reasonable to expect the Steelers to stand pat in the trade market. But, the Steelers will be in the rumor mill for a few, so it's worth keeping in the back of your mind.
EXPECT THE UNEXPECTED
Not too much to add here, but don't be too surprised if Khan pulls off a signing or trade that wows some people.
The signing of Seumalo last year is a good example. The Steelers weren't necessarily in the market for a guard. There was expressed confidence in Kevin Dotson prior to free agency, but was ultimately supplanted when the possibility of signing Seumalo became a reality. Seumalo was way more affordable than expected, and Khan wasn't afraid to pounce on it.
It's also worth noting the move worked out for both parties. Dotson got a fresh start with the Rams and just earned a hefty three-year, $48-million contract after a great year in L.A., and the Steelers' best linemen were Seumalo and James Daniels. Guard is the one position the Steelers don't have to worry about this offseason.
It's almost a guarantee that certain players' markets will move slower than expected, or at least aren't valued as high as expected. That's when Khan can swoop in and add a quality player at a bargain price, even if it's not at a position of drastic need.
Regardless of what plays out in the coming days, we'll have you covered up to the minute in out Steelers feed. Bookmark it now and stay caught up on everything.
