The Steelers have a long list of pending free agents, and while some with be targets to bring back, it seems like there will be quite a few notable names that will walk. With free agency just around the corner, I wanted to go player by player and see what their value could be on the open market as well as what it would cost for Pittsburgh to keep them.
Russell Wilson has already been covered, and now we are talking about his backup for most of the season Justin Fields. While we saw Fields start for the first handful of games, he was benched for Wilson and never earned the starting role again. That said, reports are coming out that this team prefers Fields right now, and given his youth and potential, there is logic there.
Figuring out a value for Fields is hard though. He was the clear second option last year, but he has starting experience and the team won with him at the helm. I’ve dabbled with what a contract could look like, and I will expand upon and update that here.
Steelers market value for Justin Fields
- Over the Cap Value: $7.025 million
- Spotrac Value: $8.9 million
Similar contracts: Geno Smith (25 million); Gardner Minshew (12.5 million); Jordan Love [2023] (13.5 million)
The valuation for Fields is so tricky. The quarterback market is always hot, so competition is there, but the market has a clear dropoff from the starters vs. the backups/transitional quarterbacks. Geno Smith signed his $25 million-a-year deal after one good season, and I think he is the ceiling of what a contract could look like. Gardner Minshew was signed as the interim starter for the Raiders, and I would be shocked if Field makes less a year than he signed for.
While not a current deal, I really like what we saw the Packers give Jordan Love a few years ago. He was in a similar boat, and the team wasn’t willing to give him a long-term deal, so he got an extra year at a rate below the fifth-year option number to prove himself. I think a deal like this with an optional second year makes sense.
For the Steelers, I feel like both Spotrac and Over the Cap’s valuation are too low for Fields. A salary like that would put him in the same field as clear and defined backups. If he goes somewhere with an established veteran to learn for the year, fine, but as the starter for the Steelers that cost should be more.
Steelers deal needed for Fields: 2-year, 38.5 million dollar deal (19.25 APY), 16 million signing bonus, 17.5 million total guaranteed
I’ve come down a bit from where I think Field’s contract will come in, and while a two-year deal, this is structured as a one-year deal with the option of a second year at an extended cost. The second year comes with a salary increase (13 million vs 1.5 million) as well as a sizable roster bonus (8 million) that will essentially let him know if he is the starter in 2026.
He gets 17.5 million dollars off the bat and bets on himself to earn more long-term. If he finally captures the potential he showed, the Steelers have him under contract and can negotiate a long-term deal. If he fails, he can be cut with little long-term impact on the cap. If he is hot and cold, you have him under contract for another year and can try him one more time.
READ MORE: 6 unique ways the Steelers can try to upgrade their quarterback room in 2025
For Fields, he won’t have to learn a whole new system once again, and if he feels like Pittsburgh is his best shot to rebuild his value, he should like this deal. He gets a fair salary this year with the chance of earning more. If the team decides to move away from him next year, he gets to be a free agent and can choose his next home.
Considering the state of the quarterback market this offseason, this may be as good as it gets for the Steelers. You get a legitimate starting option that you are familiar with and have some control over him long-term. His first-year cap hit is small at 9.5 million dollars, so you can work on building him a good offense to complement his skill set.