3 worst contracts on the Steelers roster in 2024

The Pittsburgh Steelers are not immune from making questionable financial decisions. This goes for the new front office heads too. As impressive as General Manager Omar Khan and Assistant GM Andy Weidl have been early in their new roles, they have handed out a few contracts that have some fans scratching their heads.

It's no surprise to see the Steelers spend the vast majority of the team's salary cap on the defensive side of the ball. Unfortunately, some of this money would be better utilized elsewhere.

In the case of one contract, the price Pittsburgh was forced to pay to keep a star player around was out of their control. Let's dissect the three worst contracts on the Steelers' roster entering the 2024 season.

1. Larry Ogunjobi (3 years, $28.75 million)

When the Steelers signed Larry Ogunjobi to a one-year, $8 million contract during the 2022 offseason, I was excited about what he would bring to the team. The nimble defensive lineman was coming off a career year with the Bengals, which included 49 tackles, 7.0 sacks, 12 tackles for a loss, and 16 quarterback hits.

Unfortunately, my excitement quickly turned to disgust when the Steelers inked Ogunjobi to a three-year, $28.75 million extension after an unspectacular first season in Pittsburgh. Not only was Ogunjobi quiet on the stat sheet, but his overall impact on the defense was often unnoticed.

Somehow, after earning just 1.5 sacks and 7 TFLs in 2022, Omar Khan felt it necessary to lock up Ogunjobi at $9.58 million per season just because the defensive line group in free agency started drying up in 2023.

While Ogunjobi has started and played 33 of 34 games over the past two seasons for the Steelers, he simply isn't worth the contract he received from the team last offseason. His $13.28 million cap number in 2024 is the fourth-largest on the team this year.

2. Minkah Fitzpatrick (4 years, $72.98 million)

Don't confuse having a bad contract for being a bad player. It's not Minkah Fitzpatrick's fault that the going rate for top safeties is as high as it is. Unfortunately, because of today's quick passing game, the safety position has never been more devalued in the NFL.

When Minkah inked his four-year extension, it was for a whopping $18.2 million per season. However, these numbers look significantly worse after Pittsburgh restructured his deal. Minkah has a lofty $21.355 million cap number for the 2024 season. This goes up to $22.355 million in 2025 and $24.455 million in 2026.

Even for arguably the league's best safety, this is too much money to dish out to a position that doesn't rank high on the list of the most important positions in the league.

3. Cole Holcomb (3 years, $18 million)

When the Steelers signed Cole Holcomb to a three-year, $18 million deal during the 2023 offseason, I had no issue with this move. Holcomb was an athletic and versatile linebacker who offered a bit of everything at a reasonable cost.

Unfortunately, this is one of those decisions that doesn't look as good in hindsight. Had we known the Steelers were going to fork up for a Pro Bowl linebacker in Patrick Queen and spend a third-round pick on All-American LB Payton Wilson, they probably would have never made the move for Holcomb.

Now the veteran linebacker is attempting to work his way back from a gruesome knee injury he suffered halfway through 2023. With the seventh-highest cap number on the team in 2024, Holcomb needs to return to the field and have a strong season for Pittsburgh to get their money's worth.