The Steelers are one of the few teams who were severely affected by the cap number being lowered by $16M due to COVID-19. They would have around $22M and be able to free up more cap space and make a run at some top free agents. Instead, they’re sitting at $6M with some moves they could make to free up some more wiggle room.
Releasing CB Joe Haden would save $7M, and releasing CB Steven Nelson would save $8.2M. I expect one of those two to be released in the coming days. I predict them to actually extend CB Steven Nelson, a three-year extension worth $10M annually. This would free up around $5M. Then with that move, they release Joe Haden, which frees up $7M. These moves free up a total of $13M and gives them $19M.
To create even more cap space the steelers should restructure Cam Hayward’s and Stephon Tuitts contracts to free up around $10M in cap space. This gives them a final amount of $29M heading into free agency.