Steelers extend contracts of Polamalu, Miller

Posted by Mike Florio

Yes, the Steelers extended the contract of safety Troy Polamalu and tight end Heath Miller. Yes, it means that the Steelers won’t be cutting either guy.

But it doesn’t mean either guy will be around after this year.

For now, Polamalu and Miller aren’t getting any more money on their contract extensions. As explained by Ed Bouchette of the Pittsburgh Post-Gazette, these extensions are glorified restructurings, aimed at adding years into which 2014 cap dollars can be dumped.

As to Miller, $3.3 million in cap space was created. As to Polamalu, $4.5 million has been cleared. The $7.8 million saved now will hit the cap in future years.

http://profootballtalk.nbcsports.com/2014/03/05/steelers-kick-the-can-with-polamalu-miller/

Glad to keep these guys in black and gold. I don't know about the financial stuff (numbers make my brain hurt) but it sounds like saving money now is always a good thing.

I don't think either will go anywhere. I think both like exactly where they are. Now if we can just get a shutdown CB. Fantasy world, I know.

If all they did was restructure to help with cap impact, then it proves that those two players want to retire Steelers players and they are in fact, 'Team players'

Hasn't Heath done this in the past? I'm not surprised they would take a cut to stay knowing that both are team players and stand up guys.

solardave wrote:

Hasn't Heath done this in the past? I'm not surprised they would take a cut to stay knowing that both are team players and stand up guys.

They didn't take cuts. They just restructured (adding years to the contracts) to free up money under the cap for this year (almost $8 million). They're getting the same amount of money ... it's just spread out differently (in signing bonuses instead of salary). As explained by Ed Bouchette:

Quote :

Miller’s new deal whittles his salary cap by $3.3 million. All the Steelers did was convert $5 million of his $6 million 2014 salary to a signing bonus and extend his contract by two years with no new money added other than non-guaranteed salaries of $4 million per year.

Polamalu’s move will create $4.5 million in salary-cap space this year. They converted $6.75 million of his $8.25 million salary for 2014 into a bonus, and he will receive the remaining $1.5 million in a salary in 2014. He also has non-guaranteed salaries of $6 million in 2015 and $5.75 million in 2016.

Read more: http://www.post-gazette.com/sports/steelers/2014/03/05/Report-Steelers-extend-Heath-Miller-s-contract-through-2016/stories/201403050194#ixzz2vICtJKGt

One thing that's nice is seeing the amounts of these contracts diminish over the years. It's frustrating to see a player near the end of their career sign a contract that is heavily back-end loaded, knowing the guy would be cut before that last year. Talk about dead money.