Alex Highsmith signed a 4-year extension with the Pittsburgh Steelers during…..

The Pittsburgh Steelers entered draft week with approximately $12 million in cap space. If the Steelers were to sign a big-name free agent that’s still available, they would have to free up cap space. They did so by restructuring the contract of their EDGE rusher.

The Pittsburgh Steelers restructured the contract of their EDGE rusher.

According to Ian Rapoport of NFL Network, the Steelers restructured the contract of Alex Highsmith by converting $8.75 million of his salary into a signing bonus, adding one void year, and freeing up $7 million in cap space.

As a result, Highsmith’s base salary dropped from $10.733 million to $1.125 million, and his cap hit dropped from $13.933 million to $6.727 million for 2024.

Finally, his $8.75 million signing bonus will spread evenly for the next five years at a value of $1.75 million, as his contract runs through 2027, and will have a dead cap hit of $1.75 million when his contract voids in 2028.

Alex Highsmith signed a 4-year extension with the Pittsburgh Steelers during the 2023 offseason.

Highsmith signed a 4-year, $68 million contract extension with a $16 million signing bonus and $27.743 million guaranteed.

Highsmith started 17 games last season with 57 tackles, eight TFLs, seven sacks, two interceptions, one pick-six, three pass deflections, two forced fumbles, and a 90.3 PFF Grade. He also had three tackles, one TFL, and one sack in the Wild Card.

Could the Pittsburgh Steelers be onto something?

General Manager Omar Khan gave an interesting response when asked about the possibility of signing a big-name free agent after the draft.

“We’ll see. As I’ve said it before, if there’s ever an opportunity to improve the team, we’re gonna look at it,” Khan said via the team’s YouTube channel. “And if it makes sense, we’re gonna go after. But we restructured Alex’s deal and like you said, it puts us in a position to be flexible with some things if there’s an opportunity to do something.”

The Pittsburgh Steelers completely overhauled their quarterback room this offseason by saying goodbye to Kenny Pickett, Mitch Trubisky and Mason Rudolph while bringing in Russell Wilson, Justin Fields and Brandon Allen.

It remains to be seen how those changes will make an impact on the field, but they are already getting pretty significant reviews off the field before the season even begins.

During an appearance on teammate Cam Heyward’s live show during the NFL Draft, running back Jaylen Warren said there has been a “night and day difference” from last year and that the new leadership from the position “speaks volumes.”

That is not only high praise for the way Wilson, Fields and Allen have already started to fit in, but it also seems like a pretty strong statement on what was happening a year ago.

Not only did the Steelers quarterbacks badly struggle – specifically Pickett and Trubisky – but there was also some drama late in the year when reports surfaced about Pickett being unhappy he did not get his starting job back before the end of the season. Despite being medically cleared to play, Pickett remained as a backup in the final weeks of the season and into the playoffs after Rudolph performed well enough to help get the Steelers in the postseason.

Following the signing of Wilson in free agency to a bargain contract, Pickett was traded to the Philadelphia Eagles.

That trade set things in motion for the Steelers to acquire Fields from the Chicago Bears for a conditional sixth-round draft pick.

It is likely that the Steelers’ long-term quarterback solution is still not on the roster, but they have at least given themselves a chance to make a significant upgrade at the position in the short term. The Steelers still won 19 games the past two years (including 10 in 2023) despite having some of the worst quarterback play in the NFL.

It is at least logical to think that – given the strength of their defense and some of the playmakers they have on offense – even average quarterback play could put them in the running for the AFC North division title this season.