Willie Colon the Latest to Restructure His Contract

The Steelers have restructured the contract of right tackle Willie Colon, reports Ed Bouchette of the Pittsburgh Post-Gazette.

Signed to a five-year, $29 million contract last July, Colon was due a $4.5 million base salary with a cap number of $5.7 million in 2012.

According to Bouchette, Colon’s base salary has been reduced to the league minimum ($700,000) with the remaining $3.8 million converted to a signing bonus that will be prorated over the remaining four seasons. Colon’s cap number for 2012 is now $2.85 million, a $2.85 million cap savings.

The Steelers cleared over $18 million of cap space with the releases of Arnaz Battle and Bryant McFadden and restructuring the contracts of LaMarr Woodley, Lawrence Timmons and Ike Taylor. The Steelers remain about $5-$6 million over the cap, so more work needs to be done before March 13.

Colon, 28, missed all of 2010 with an Achilles injury and only appeared in one game in 2011 after suffering a torn triceps in the season-opener. Colon is projected to open the 2012 season as the starting right tackle, with 2011 second-round pick Marcus Gilbert kicking over to the left side.

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6 Responses to “Willie Colon the Latest to Restructure His Contract”

  1. George H says:

    Cut Kemo, Farrior, Foote, Hampton, Smith. Restructure Ben, Troy, Keisel. That would put the organization well under the cap and enough to possibly being back Wallace. I’ve been reading all day that people think Wallace is expendable for a 1st round pick and maybe he is determining on what pick we get. However, has the emergence of Antonio Brown been enough to think we can let Wallace go, or is it that Wallace demands the double-team which allows Brown to run free?

  2. DrGeorge says:

    George H, I agree with your financial analysis. Those cuts should do the trick, depending on the cost of their replacements. However, finding replacements of equal quality may prove a tall order.

    As for Wallace, I haven’t heard many say he’s expendable, in so many words; but they question his value versus projected cost to the team. Brown’s emergence is only part of the equation. This draft is deep in good receivers, so some are willing to roll the dice on a less costly replacement. Like you, I am reluctant to let prime talent go. It isn’t easily replaced. However, I am concerned about Wallace’s lethargy in the last 6-7 games of the season. The guy simply disappeared. It’s hard to imagine D. Rooney paying top dollar for that level of performance.

    • George H says:

      Wallace may have disappeared in the stats but his presence on the field demanding the double-team alone is well worth the money. I know it wont be easy to replace the players I listed above, yet thats just part of the game and the steelers always seem to find players to step up and become stars.

      If the Steelers were to let Wallace go, I would hope it would be as a restricted FA so atleast we get the comp pick. I do realize as well the replacing Wallace is no easy task, yet if the comp pick is high enough, or allows the steelers to address the trenches early in the draft then I wouldnt mind seeing that scenario play out.

      I would love to see Wallace retained, although my dream scenario would be if Wallace wasnt retained and we get the comp pick, I would like to see the FO get Mike Adams the Tackle from Ohio St and Demitri Poe the monstrous 6-5 350 lbs DT out of Memphis. Then the second round target another o-linemen, perhaps that gaurd from Iowa St thats supposed to be a big, nasty run-blocker. However, this is just a random scenario from my couch.

  3. Mike says:

    Can’t teach speed. And I mean top end speed with a penchant for finding the end zone. He has big play, game breaking ability. Everyone focuses on his second half of the season. Yea, it was weak. But, remember the first half of the season when every opposing defense knew he was going deep and they still couldn’t stop him? Just last year, we were singing his praises. He is a Pro bowl WR and to get a low end first round draft pick for him would not be enough. Imagine what he can do in New England. Parish the thought. Bottom line: Salary cap can be a bitch.

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