Back in March, I wrote a piece explaining why the Steelers had an obvious decision to make with Justin Fields' fifth-year option. The quarterback was coming off a 2023 season with the Bears in which he suited up for 13 games, and it was Russell Wilson who was in 'pole position' of the starting quarterback.
We didn't know how long it would take for Fields to be inserted into the starting lineup or if it would happen at all. Thus, slapping a fifth-year option worth $25 million fully guaranteed on a backup quarterback seemed like a bad idea.
I was wrong.
Pittsburgh's front office elected to decline Fields' option that would have kept him around for the 2025 season. Instead, they wanted him to prove his worth to the team before tying unmoveable money into him next season... and he's done exactly that.
Thanks to the unfortunate calf injury to Wilson, Fields got the nod as the starting quarterback in Week 1. Now it looks like he may never give the job back to Wilson.
While racking up points is still a challenge, Fields has been everything the Steelers were hoping he would be and he has executed Mike Tomlin's game plan to a tee. This has led Pittsburgh to an undefeated record early in the season.
The 25-year-old quarterback offers hope of a future, and going on a playoff run isn't out of the question following the 2024 regular season. Unfortunately, Pittsburgh is going to pay the price.
Steelers will be forced to up the ante for Justin Fields in 2025
If $25 million sounded like a lot, wait until you see what the going rate is for a starting-caliber quarterback on the open market in 2025. Because of Justin Fields' early success in 2024, there's no advantage of him suddenly inking an extension with the Pittsburgh Steelers before testing the market next offseason.
From some basic estimates, it's easy to see how Fields will surpass what he would have made on the fifth-year option with ease. The Browns are paying Deshaun Watson $46 million per year, fully guaranteed, and his deal came during the 2022 offseason when the market was less inflated. Meanwhile, Daniel Jones is raking in a yearly average of $40 million per year, per Over the Cap.
There are a few factors that come into play here that could potentially lower the yearly value the Steelers would be forced to hand Fields on a new contract in 2025. If the young quarterback suffers an injury or begins to struggle and Wilson takes his place, he can kiss a lucrative contract in this ballpark goodbye.
However, the play regression seems unlikely, which is great for the Steelers. We would all rather see Pittsburgh have to pay a quarterback who is playing well rather than pocket money because they don't have a QB worth paying.
Hindsight is twenty-twenty. Declining Justin Fields' fifth-year option looks like the wrong decision nearly half a year later, but Pittsburgh should be thrilled they may have actually found a quarterback they can count on.