WEDNESDAY, 11:23am: The restructure has added two new years to Miller’s contract, according to Tom Pelissero of USA Today (Twitter link). The new deal includes base salaries of $4MM in 2015 and 2016, while 2014’s cap number has been reduced to about $6.133MM, a reduction of $3.33MM.
MONDAY, 10:47am: The Steelers have restructured Heath Miller‘s contract in order to create 2014 cap space, reports Ian Rapoport of NFL.com (via Twitter). Miller had been a strong candidate to be restructured or released due to his $9.47MM cap number. That cap hit will be reduced, though the specific details aren’t yet available.
Miller’s contract called for a $6.02MM base salary in 2014, to go along with a prorated bonus amount of about $3.45MM. That bonus amount can’t be adjusted down any further, but the base salary could be reduced all the way to the minimum. 2014 was slated to be the last season of Miller’s deal, so it’s not clear yet whether the new agreement will add any extra years to the contract, or if Miller agreed to take a pay cut. If there are new years on the deal, it’s also possible they’re voidable, which would still allow the tight end to become a free agent next year.
The Steelers are among the teams with the most money committed to the 2014 cap, meaning Miller’s deal likely won’t be the last one the club restructures. Even with a higher than expected $133MM cap for ’14, the Steelers may have limited flexibility to bring back their own free agents and add new players.