If the Steelers re-sign Justin Fields, what will the contract look like? Will it be significantly more than anyone anticipates? Will it be more than the two years most have expected?
This is a fun little exercise I like to do.
Let's face it: Re-signing Fields is probably going to be more expensive than some may want. And, to fight off potential offers from other teams and keep Fields from testing free agency, Omar Khan may need to pay above market value or add a third year.
Just for fun -- and please understand this is a GUESS and NOT an ESTIMATE or SOURCED REPORTING -- let's say the Steelers offer Fields a three-year, $54-million contract with a $24 million signing bonus and a total of $42 million guaranteed.
That sounds like a huge contract, one that may irritate a lot of fans. But, it's all about how the contract is structured.
With a contract like that, this could be a way Khan structures it:
OVERTHECAP.COM
The $24 million signing bonus is fully guaranteed and prorated over the life of the deal. That's standard of any NFL contract. The vast majority of the remaining guaranteed money comes in fully guaranteed salaries in 2025 and 2026, but one year of a cap hit lower than the contract's $18 million average annual value (AAV) and the second year right at it. Those are two very affordable cap hits for a quarterback in today's NFL.
In this scenario, the Steelers would have $50.5 million in cap space this offseason after securing the quarterback position. That's plenty of money to make significant additions at wide receiver and cornerback.
The third year would have the largest cap hit at $22 million, but with only $10 million guaranteed -- $8 million of the signing bonus and $2 million guaranteed in some sort of roster bonus. That makes $42 million guaranteed over three years. And, by the conclusion of the 2026 season, the Steelers will likely know if Fields is still their guy. Should they decide to move on, they'd take on $10 million of dead cap and shed $12 million in cap space. Should he prove to be a franchise quarterback, they would have just had him cheap for two years then need to re-sign him to a more expensive deal. The third year is there more for protection on Fields' end. Should he get cut, he could go explore other deals with $10 million in his pocket.
Again, this is just an exercise. Fields may sign for less than this, and he may sign for more. But, in case he signs for a number that may initially blow you away, remember that it's all about the way the contract is structured. Any potential contract more than two years could have the vast majority of the guaranteed money up front while still having very affordable cap hits.
We'll see if this gets done before 12 p.m. on Monday, which is when Fields can begin negotiating with other teams. Should be a fun weekend.
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THE ASYLUM
Structuring a potential Fields contract
If the Steelers re-sign Justin Fields, what will the contract look like? Will it be significantly more than anyone anticipates? Will it be more than the two years most have expected?
This is a fun little exercise I like to do.
Let's face it: Re-signing Fields is probably going to be more expensive than some may want. And, to fight off potential offers from other teams and keep Fields from testing free agency, Omar Khan may need to pay above market value or add a third year.
Just for fun -- and please understand this is a GUESS and NOT an ESTIMATE or SOURCED REPORTING -- let's say the Steelers offer Fields a three-year, $54-million contract with a $24 million signing bonus and a total of $42 million guaranteed.
That sounds like a huge contract, one that may irritate a lot of fans. But, it's all about how the contract is structured.
With a contract like that, this could be a way Khan structures it:
OVERTHECAP.COM
The $24 million signing bonus is fully guaranteed and prorated over the life of the deal. That's standard of any NFL contract. The vast majority of the remaining guaranteed money comes in fully guaranteed salaries in 2025 and 2026, but one year of a cap hit lower than the contract's $18 million average annual value (AAV) and the second year right at it. Those are two very affordable cap hits for a quarterback in today's NFL.
In this scenario, the Steelers would have $50.5 million in cap space this offseason after securing the quarterback position. That's plenty of money to make significant additions at wide receiver and cornerback.
The third year would have the largest cap hit at $22 million, but with only $10 million guaranteed -- $8 million of the signing bonus and $2 million guaranteed in some sort of roster bonus. That makes $42 million guaranteed over three years. And, by the conclusion of the 2026 season, the Steelers will likely know if Fields is still their guy. Should they decide to move on, they'd take on $10 million of dead cap and shed $12 million in cap space. Should he prove to be a franchise quarterback, they would have just had him cheap for two years then need to re-sign him to a more expensive deal. The third year is there more for protection on Fields' end. Should he get cut, he could go explore other deals with $10 million in his pocket.
Again, this is just an exercise. Fields may sign for less than this, and he may sign for more. But, in case he signs for a number that may initially blow you away, remember that it's all about the way the contract is structured. Any potential contract more than two years could have the vast majority of the guaranteed money up front while still having very affordable cap hits.
We'll see if this gets done before 12 p.m. on Monday, which is when Fields can begin negotiating with other teams. Should be a fun weekend.
Want to participate in our comments?
Want an ad-free experience?
Become a member, and enjoy premium benefits! Make your voice heard on the Steelers, Penguins and Pirates, and hear right back from tens of thousands of fellow Pittsburgh sports fans worldwide! Plus, access all our premium content, including Dejan Kovacevic columns, Friday Insider, daily Live Qs with the staff, more! And yeah, that's right, no ads at all!
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