Steelers get to work on restructuring contracts to save cap space

Steelers get to work on restructuring contracts to save cap space
Posted by Michael David Smith on February 9, 2012, 4:08 PM EST


With the Steelers entering the offseason some $25 million over the 2012 salary cap, they have a lot of moves to make before the league year begins on March 13. Some of those moves will be releasing players, as they did on Wednesday with Bryant McFadden and Arnaz Battle. And some of those moves will be restructuring existing players’ contracts.

Ed Bouchette of the Pittsburgh Post-Gazette reports that Steelers linebackers LaMarr Woodley and Lawrence Timmons became the first two players to restructure contracts, when each of them agreed to re-do the deals they signed just six months ago.


(Read More:) http://profootballtalk.nbcsports.com/2012/02/09/steelers-get-to-work-on-restructuring-contracts-to-save-cap-space/

Teamwork. That's what I'm talkin' about.

solardave wrote:

Teamwork. That's what I'm talkin' about.

Nobody's better at it than the Steelers.

I heard the details of Woodley's deal, but has Timmon's details been released?

bayz101 wrote:

I heard the details of Woodley's deal, but has Timmon's details been released?

I've only seen what's in the article so far.

bayz101 wrote:

I heard the details of Woodley's deal, but has Timmon's details been released?

For Timmons, his cap number of $9.125 million drops to $3.985 million, creating $5.14 million in cap space. The extra money comes from the conversion of $7.125 million in salary and roster bonus into a salary of $700,000 and a signing bonus of $6.425 million. It results in an extra $1.285 million being charged under Timmons’ name in the final four years of his contract.

http://profootballtalk.nbcsports.com/2012/02/10/steelers-clear-117-million-with-timmons-woodley-restructurings/