Steelers Create Cap Space by Renegotiating Woodley’s Contract

The Steelers got to work on the salary cap on Tuesday, as they cleared $6.56 million of salary cap space by renegotiating the contract of linebacker LaMarr Woodley.

Franchised by the Steelers prior to last year’s lockout, Woodley signed a five-year extension worth $52.5 million on August. Woodley received a $13 million signing bonus, $4 million option bonus and a $1.1 million base salary which resulted in a 2011 cap number of $7.7 million. In 2012, Woodley was due a $3.4 million base salary and had a $5.5 million roster bonus due on the 5th day of the 2012 league year for a cap number of $11.5 million.

On Monday, Woodley agreed to a restructure that lowered his base salary to $700,000. The remaining $2.7 million in base salary was combined with his $5.5 million roster bonus and converted into an $8.2 million signing bonus, which will be prorated over the remaining five seasons of Woodley’s contract.

Woodley’s cap number in 2012 is now $4.94 million.

Woodley’s base salaries in 2013-16 were unchanged, but $1.64 million was added to each year’s cap number.

Even with the Woodley restructure, the Steelers are still well over a 2012 salary cap that is not expected to increase much, if at all. Quarterback Ben Roethlisberger, safety Troy Polamalu and linebackers James Harrison and Lawrence Timmons each have cap numbers in excess of $9 million and are potential restructure candidates.

Related Posts Plugin for WordPress, Blogger...
 

Tags: ,

About the author: Matt Loede

 

Matt Loede has been in the sports media for over 16 years, with experience covering Major League Baseball, National Basketball Association and of course, the National Football League. On NFL Sunday’s you can hear Matt on National networks like Fox Sports Radio, Associated Press, and other stations around the country. Matt also joined The Washington Post in 2009 as a guest columnist on league hot topics. Born and raised in Cleveland, Matt studies and talks football inside and out, and is anxious to share his thoughts and comments with readers on a daily basis.

 

Recent posts in News

 

One Comment

Your email address will not be published. Required fields are marked *

 

 

 
 
 
 

Play Daily Fantasy Sports

 
 

Steelers Gab Features

 
 

Archives

 
 

Categories

 
 
 
 

Recent Comments

  • Dave B.: The 2016 Steelers as of today , are not Super Bowl contender…
     
  • Kendra: How do i get them in utah?…
     
  • Jay: I agree he is a bust. I wanted him during the college season…
     
  • BB: Where did you get that I am inferring that You think Jarvis …
     
  • Dave B.: No one said , and that includes me . that Jarvis Jones was t…