2. Patrick Peterson (2 years, $14 million)
Letting Cameron Sutton walk to sign an aging Patrick Peterson was certainly an interesting decision on the part of the Pittsburgh Steelers, and one that I wasn't completely on board with. However, when you consider the cap savings, it's not hard to understand why Omar Khan made this move.
Instead of dishing out $11 million per year and $21 million in guarantees to Sutton, the Steelers were able to get Peterson on a two-year deal at just $7 million per year. Obviously, Peterson's best football is behind him, but that doesn't mean he couldn't be worth the price tag over the next season or two.
Peterson really struggled in man coverage in 2022, and considering the fact that Pittsburgh played the fifth-most man coverage in the league last year, it makes this move questionable. However, Peterson still graded out as the 12th-best cornerback in the league last year, per PFF, while recording 5 interceptions.
The good news is that Peterson has a very manageable cap number of just $4.2 million for the 2023 season. The Steelers could decide from there whether or not they want to keep him on the final year of his deal in 2024. If they need to get out of his deal, Pittsburgh could save $6.85 million by cutting him next offseason with only $2.9 million in dead money. This is a low-risk deal with a potentially high reward if Peterson can still play at a high level at 33 years old this year.