Source: #Steelers are restructuring deals in order to create salary cap space.
Latest is TE Vance McDonald. He agreed to convert his $5.5m base salary to signing bonus.
— Adam Caplan (@caplannfl) March 16, 2020
Many people, myself included thought the Pittsburgh Steelers could release tight end Vance McDonald to get some salary cap for this season. But instead the Steelers are working to restructure his contract, converting his $5.5 million to a signing bonus.
This move should free up $2.3 million in additional cap space. Pittsburgh is looking to squeeze every nickel out of the salary cap right now after slapping the franchise tag on linebacker Bud Dupree, putting them on the hook for $15.8 million in 2020.
The Steelers also announced they were releasing linebacker Mark Barron, wide receiver Johnny Holton and linebacker Anthony Chickillo. This is in addition to the retirement announcement by guard Ramon Foster.
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