Steelers Restructure DK Metcalf's Contract, Add Cap Space

The Pittsburgh Steelers are now in a better spot financially as they head into the 2026 season.

According to ESPN's Field Yates, the Steelers have restructured DK Metcalf's contract, which has opened up $18 million in cap space as a result as the team converts base salary into a signing bonus.

The Steelers have restructured the contract of WR DK Metcalf, converting base salary into a signing bonus and creating nearly $18M in 2026 salary cap space.
— Field Yates (@FieldYates) August 27, 2026

Pittsburgh's cap situation had been rather dire for this year, and the expectation was that the organization would eventually move to restructure one of the bigger deals on its books.

According to Over the Cap, the Steelers were slated to have just $1.124 million in cap space prior to the restructuring of Metcalf's contract, which was the least amount of available money of any team in the NFL.

Pittsburgh has been quite active this offseason in handing out new deals to its players on expiring contracts, such as Nick Herbig, Darnell Washington, Keeanu Benton and Chris Boswell.

With Joey Porter Jr.'s contract situation looming over the Steelers as the two sides remain at an impasse, perhaps restructuring Metcalf's deal could help accelerate an agreement in the next few weeks before Week 1 arrives.

The fact of the matter, though, is that restructuring Metcalf's contract was a necessary move for Pittsburgh in order to ensure it had enough room to work with throughout the campaign.

Oct 12, 2025; Pittsburgh, Pennsylvania, USA; Pittsburgh Steelers wide receiver DK Metcalf (4) makes a catch for a touchdown during the fourth quarter at Acrisure Stadium. Mandatory Credit: Barry Reeger-Imagn Images | IMAGN IMAGES via Reuters Connect

Steelers' Cap Space Situation Moving Forward

After finding themselves at the bottom of the totem pole when it comes to cap space around the league, the Steelers will now fall around the mid-to-late teens in that regard.

As we wait for the complete details of Metcalf's contract restructure to be disclosed in addition to the implications on Pittsburgh's cap situation, the team is $10.644 million in the red for the 2027 season according to Over the Cap.

There are nine other teams who are technically over the cap for next year at the moment. As the cap continues to rise by a considerable amount annually, however, there isn't really any reason to panic about the Steelers' standing moving forward.

They're going to make the necessary moves to place themselves in a more advantageous position from a cap space perspective in 2027 once the times comes. The possibility of selecting a quarterback high in next year's NFL Draft with the clear intention of them becoming the franchise's long-term starter on a rookie contract would also be beneficial.

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