The first full offseason as the Pittsburgh Steelers general manager is in full swing for Omar Khan. Many wondered what the team was doing after allowing Cameron Sutton to sign elsewhere, but it was quickly made up for as the organization announced the signing of three-time All-Pro cornerback, Patrick Peterson. That move, among others, have proven that the franchise is completely open to doing business with outside free agents this time of year and given the current cap situation, it's very possible that Pittsburgh is not close to done.
Steelers former Vice President of Football Operations and current general manager smiles while on the field in Pittsburgh, PA. | Charles LeClaire / USA Today Sports
According to Spotrac, Pittsburgh currently has just north of $20 million in cap space after the majority of the free agent activity that has gone on to start the NFL's new league year. That data does not consist of the biggest contract that appears to be with Larry Ogunjobi as well as linebacker, Cole Holcomb's.
It's safe to assume that, after the official details are released regarding the last two unknowns, the Steelers will still have north of $10 million in cap space and the number could quite possibly land anywhere in between $13 and $16 million. The craziest part is that number will be calculated without restructuring the contracts of TJ Watt and Diontae Johnson.
Assuming Pittsburgh wants to go that route, restructuring the contracts of the two could get the team over $17 million more in free financial space. When it's all said and done, Khan could still have more $30 million to work with. Of course, some needs to be saved for draft picks and other areas, but could a big splash be coming?
Steelers linebacker, Alex Highsmith (#56) warming up on the field at Acrisure Stadium before a 2022 regular season game against the Baltimore Ravens in Pittsburgh, PA. | Photo Credit: Jordan Schofield / SteelerNation.com (Twitter: @JSKO_PHOTO)
The first thing that comes to mind is a typical Steelers move. Edge rusher, Alex Highsmith absolutely deserves a second contract after a dominant third season in 2022. He had 14.5 sacks and was a big performer on the defense even with Watt out for almost half of the season. The extra cash could be generated to put Highsmith and Watt together for years to come.
Then, imagination has to set in. The opportunity to have over $30 million in cap space with several top free agents still on the market has to get one thinking. No one is saying the organization is going to send over $18 million per year in the direction of Odell Beckham Jr., but if the money doesn't go to Highsmith, then who?
There are still some big names out there who would demand a little extra cash. Jadeveon Clowney, Justin Houston, Rock Ya-Sin, Marcus Peters, Isaiah Wynn, Taylor Lewan are all guys who are still looking for a home and might not be the most inexpensive left. There are multiple others as well.
Raiders cornerback, Rock Ya-Sin stretches prior to a 2022 regular season game. | Photo Credit: USA TODAY Sports
What Are The Steelers Cooking Up With The Extra Cap Space?
Pittsburgh is not in a bad spot whatsoever when it comes to cap space. Maybe it's possible that Khan wants to pay Highsmith and enter the draft and training camp with plenty of money to play with. It's hard to deny, though, that the money can be there if he really wants it to. A couple restructures would give the Steelers even more money to invest in external options.
Do you think Khan has a trick up his sleeve? Let us know in the comments below!
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