For the second season in a row, the Pittsburgh Steelers have a healthy amount of cap space. One of the benefits of not having a franchise quarterback is that this team has money to spend to improve itself.
According to Over the Cap, this team is hovering right around $45 million in available space. While the total cap for the NFL isn’t set yet, Pittsburgh should be in the top ten of available cap space.
However, more cap space is never a bad thing.
The Steelers have a plethora of avenues to add additional space. While they won’t exploit every avenue (they don’t need to). I’ve calculated every realistic way this team can increase space, and their total number could be astronomical this offseason.
The Pittsburgh Steelers could have $128 million in cap space before free agency
Steelers trade Alex Highsmith: $8.9 million in cap savings
I’m making this list from least likely to most likely, and there is a small chance that we see the Steelers part ways with Alex Highsmith. That being said, it feels like a long shot.
If the Steelers are dead set on signing Nick Herbig (which they should be) and they are confident in their depth behind everyone, you could ship out Highsmith for the right price. If a team comes calling with an aggressive offer, he could be traded.
The savings are pretty immense; nearly $9 million dollars would be opened up to spend. That said, Highsmith is an underpaid player, and the edge depth has been critical for this team.
The more likely scenario is this team finds another quality edge rusher in the draft while also inking Herbig to a big deal, and Highsmith is traded sometime before or after the season starts. The most likely scenario is that he plays out his final year in Pittsburgh before leaving in 2027.
Steelers restructure T.J. Watt: $20.47 million in cap savings
One of the benefits of being in the early stages of a mega deal is that you have the ability to restructure that deal to open up cap space. For T.J. Watt, this could allow a massive amount of cap space to open up.
The downside is that this inflates the cap hit down the road. For a player in their prime, this isn’t usually a problem. However, Watt is getting older, and his play has dropped off in recent years. With so much cap space already, it feels unnecessary to make this move.
For those of you who want Watt off the team, know that it will come with a massive dead money hit that would negatively impact the cap. You should fully expect him to be playing for this defense this year on his current contract as is.
Steelers lose Cam Heyward to retirement: $14.25 million in cap savings
Like Alex Highsmith, there is no shot that Cameron Heyward gets cut. The only way he is off this team is if he chooses to be off the team by retiring. It doesn’t feel likely, but it certainly is more realistic than the other two moves above.
Given his strong level of play, his contract feels like a steal right now. As this defensive line gets younger and infused with more talent, he feels like a lynchpin for this defense still. We should be happy to welcome him back for another season.
Steelers cut Patrick Queen: $13.33 million in cap savings
We have, subtly, gotten into more realistic scenarios for the Steelers and moves that they could decide to make. Patrick Queen has been one of the biggest underperformers in recent years after signing a record-setting contract in free agency.
His play isn’t a disaster, but he is such a hot-and-cold player. There are stretches where he looks like an elite linebacker. Then he disappears for stretches and can’t tackle to save his life. Considering how undervalued linebackers are, he certainly feels like an overpay.
READ MORE: Steelers won't be big spenders this offseason despite ample cap space
This might become an issue of the cost of replacing him. The Steelers love their linebacker depth, so cutting him means you need to sign/draft one or two bigger names to replace him. With a new coaching regime, though, they have no ties with Queen, which could cause him to depart this year.
Steelers cut Malik Harrison: $4.75 million in cap savings
A minor name with minimal savings, it didn’t feel like Malik Harrison earned his keep last year. Brought in to defend the run and play on special teams, it feels like neither area was a strong point for him.
While the team likes having him as depth, it doesn’t justify his cost right now. This feels like it could go either way right now, but if a better fit is available, I wouldn’t be shocked if he is cut this offseason.
Steelers cut Jalen Ramsey: $19.5 million in cap savings
This might be the hardest question of the offseason for the Steelers.
Pittsburgh certainly didn’t get its money’s worth from Jalen Ramsey last year. He struggled at outside cornerback and had to convert to a slot/safety only in the middle of the season. The play got better, but it certainly wasn’t elite.
For a team that was having an issue justifying Minkah Fitzpatrick’s deal this time last year, it feels almost impossible to justify Ramsey’s. He is getting paid like a top cornerback, yet his output is that of a mediocre safety right now. It is hard to justify keeping him.
That said, the transition was in the middle of the season, so there is hope that he can improve in year two. It is a close call, but I think a team wanting to win now (for better or worse) will keep Ramsey around.
Steelers cut Jonnu Smith: $7 million in cap savings
From some true coin flips of what the team will do, we come to the easiest choice of the offseason. The Steelers aren’t going to keep Jonnu Smith around for another season after a disaster of a year in Pittsburgh. You can bank on his $7 million in savings this year.
While the Steelers won’t explore all of these avenues, they certainly can create an immense amount of cap space this year. That said, expect Pittsburgh’s cap space to only increase this offseason.