On Wednesday, the Pittsburgh Steelers announced they had agreed to a five-year contract with All-Pro Safety Minkah Fitzpatrick. As the Steelers state prepares for contract negotiations to expire during pre-season, it is a welcome sight to know that one of the Steelers’ key defenders is closed during the 2026 season.
The official press release for the Pittsburgh Steelers stated that it was a five-year contract and that financial terms were not disclosed at this time. Prior to the announcement, ESPN’s Adam Shifter reported that Fitzpatrick had signed a four-year extension worth $18.4 million a year and $36 million guaranteed.
The Steelers and All-Pro S Minkah Fitzpatrick reached an agreement on a massive four-year contract extension worth more than $18.4 million annually, with $36 million upon signing, per source. The deal, negotiated and confirmed by Tweet embedmakes the Fitzpatrick S the highest-paid in NFL history. pic.twitter.com/Rnb0jJWGoM
Adam Schefter June 15 2022
Another number thrown during all the madness as news broke of the Fitzpatrick deal totaled $73.6 million. This was reported by Ian Rapoport of the NFL Network.
The new highest-paid security in the NFL, Minkah Fitzpatrick is now closed for 4 years, over $73.6 million, with a more than $36 million guarantee upon signing. Very good news for a rising security market. https://t.co/T8NSxsp9y7
– Ian Rapoport (@RapSheet) June 15 2022
Although some of these numbers may seem contradictory at first glance, they all line up. The dollar amounts make sense since $18.4 million over four years equals $73.6 million. With the Steelers reporting a five-year contract and others reporting a four-year extension, this simply means that the figures associated with a total of $73.6 million are “new money” and do not include Minkah Fitzpatrick’s $10,612 million that was due to receive in 2022. .
With all of these things in mind, the best way to look at Minkah Fitzpatrick’s contract for the next five years, judging by the reports, is as follows:
Total money: $84.212 million ($73.6 million + $10,612 million)
Total years: 5 years
Total Funds Guaranteed: $36 million
So what does this mean for the Steelers’ 2022 salary? Estimating a player’s maximum salary based on reported numbers was fairly easy given how the Steelers worked. But with the contract signed by TJ Watt in 2021, the Steelers did something they wouldn’t normally do on contracts – they were given guaranteed money after the first year. Since we don’t know exactly how the guaranteed money is split at this time, I’ll look at two different possibilities for how this might happen and the implications for the salary cap. Remember that these are estimates and speculations based on certain numbers.
(Note: The reported numbers are now included as an update at the end of the article)
work as usual
When reports surface about contracts signed by members of the Pittsburgh Steelers, it used to be the same formula for how to look for the maximum salary in season one. With the Steelers Guarantee only contract for the first year, the Guaranteed Money Report will have an addition of two items: Basic salary for the first year + signature bonus. In order to maintain the maximum salary in the first year, the base salary was usually at or slightly above the minimum salary for that player based on their years of service.
For Minkah Fitzpatrick in 2022, the minimum salary for the NFL is $1,035 million. If you use this formula, and deposit an additional $35,000 on top of what’s reported as guaranteed money, that leaves $35 million in a signing bonus.
If the Pittsburgh Steelers set up Minkah Fitzpatrick’s contract in this way, that means he received roughly the same signing bonus as TJ Watt the previous year. The difference between whites would be if they had more guaranteed money and a higher base salary in the additional years. If that’s the way things go for Patrick, he’ll average just over $12 million as his base salary in the remaining four seasons. Well, maybe the years aren’t even with each season and that’s just a good number to take into account.
If this is how the Steelers designed the Fitzpatrick necklace, His salary cap for 2022 is $8.035 million. With its pre-contract cap reaching $10,612 million, that means Steelers will save $2.577 million in salary cap for 2022.
Before moving on to another scenario, it’s worth noting that if the reports are correct and the Steelers only guarantee money the first year, that’s the maximum salary you might see for Fitzpatrick. Any other scenario would have a lower salary cap in 2022. Therefore, it is safe to estimate that He will save Minka Fitzpatrick at least $2.5 million in salary cap for 2022. This also works on the assumption that he will receive the league minimum as a base salary in 2022.
2 seasons guaranteed
Based on a report of the $36 million that Fitzpatrick was guaranteed in his contract, it is very likely that he got the money guaranteed for two years. It’s safe to say that the secured money did not extend to three years because that would mean that there was a widely disproportionate amount of unsecured base salary at the end of his contract. How much exactly? If there were three years of secured money, Minka Fitzpatrick would have had an average of $24 million in unsecured base salaries each year of the last two years of his contract. If there is no signing bonus for Fitzpatrick, that means he’s earned $12 million guaranteed for the first three years and $24 million guaranteed over the past two years. These numbers simply don’t look like a contract for the Steelers.
If there were two years of the $36 million in guaranteed money that was said to have secured Minka Fitzpatrick, the ultimate factor would be how much was his signing bonus and how much was his base salary for 2023?
Again, This will work assuming that Fitzpatrick will earn a base salary in 2022 from the league minimum of $1.035 million And we’re going to add an additional $35,000 as an add-on again to make it easier to estimate the numbers.
This leaves $35 million left on the contract between the signing bonus and base salary for 2023. Although it would be easy to get a signing bonus of $20 million and base salary of $15 million in 2023, I’m going to tweak that number a bit towards a bonus Signature. Why are you asking? Before Minka Fitzpatrick signed his contract, Jamal Adams aboard the Seattle Seahawks was the highest paid safety. Upon signing his contract in 2021, Adams received a signing bonus of $20 million. Since Minkah’s deal is a bit higher than Adams’ deal, I will say he’s got $21 million signature bonus Who would leave $14 million base salary in 2023.
Based on these numbers, Minkah Fitzpatrick will carry a Salary cap to reach $5,235 million in 2022. If that’s the case, Fitzpatrick actually held Saves Steelers $5.377 million in immediate relief Assuming all of these numbers are complete, which they are not.
Based on Fitzpatrick’s two-year guaranteed money, the average base salary for the last three years of a contract would be just over $16 million a season. Because of this number, the base salary of $15 million for 2023 and $20 million may be the best numbers to follow. If so, Fitzpatrick’s target for 2022 would be lower than that at $5,035 million and would save $5,577 million in cap space.
It’s all about the signing bonus
One key component of these estimates that has been consistent across both and that is Fitzpatrick’s base salary for 2022. If the deal ultimately has a much higher base salary, which isn’t usually how these things work with the Steelers, then hitting the Fitzpatrick ceiling this season will creep higher.
If Fitzpatrick’s estimated base salary is close, what will eventually increase his maximum salary figure is the signing bonus amount. Knowing it couldn’t be more than $35 million, which is the first scenario described, we have a pretty good idea as to what Fitzpatrick’s cap cap this year should be. If there are two years of guaranteed money, exactly how the cap changes will be reduced to the amount of what was a signing bonus against the amount of base salary for the second year. The higher the signing bonus, the higher the 2022 cap. But if the signing bonus goes down, so will the cap number for the season.
Once you report the exact breakdown of the Minkah Fitzpatrick deal, find a salary cap update here at Behind The Steel Curtain.
The exact numbers for Minkah Fitzpatrick’s deal and implications for the 2022 salary cap were reported by ESPN’s Field Yates:
Steelers S Minca Fitzpatrick received a signing bonus of $17.5 million as part of his extension, while his 2022 base salary was reduced to $4 million.
His updated fee for 2022: $8,124,235.
In locking up their star, the Steelers also generated $2,487,675 in cover space.
– Yates field (FieldYates) June 16, 2022
Interestingly, the Steelers have kept a base salary of $4 million for Fitzpatrick this season. In doing so, and not turning the extra 3 million into a signing bonus, he’s in effect maintaining a higher salary cap for 2022 but not spreading the extra money into additional seasons.
The problem with the Yate report at this time is that the numbers do not appear to be combined with the information provided. If Fitzpatrick had a base salary of $4 million and a signing bonus of $17.5 million, the prorated bonus amount over the five seasons would be $3.5 million per year. When these numbers are added, it appears that Fitzpatrick’s cap will be $7.5 million for 2022, not $8,124,235 as reported. It is not known at the moment where the additional $625,000 in additional funds for 2022 will come from, and it is not known whether it will go in the category of secured funds.
Assuming the reported figure for Minka Fitzpatrick’s 2022 salary cap is correct, the savings would be $2,487,675. Although this number is slightly lower than the one mentioned above, it is still very close and won’t make much difference in the long run. Also, if the Steelers want more room from the Minkah Fitzpatrick deal, it’s easy to slip nearly another $3 million into the signing bonus from this year’s base salary.
As more details emerge about the finer details of the Fitzpatrick deal, they will be updated here.
For more information on Minka Fitzpatrick’s potential salary cap numbers following his new contract with the Steelers, check out the latest Steelers Stat Geek The podcast is below: