Last week a report emerged that stated Steelers tackle Willie Colon would be unwilling to take a pay cut to help the Steelers get under the salary cap, despite the fact that Colon missed most of last season with an injury. Colon has, however, agreed to restructure his deal with the Steelers so that his salary will be staggered.
#steelers restructure OT Willie Colon contract to save cap space. $3.8 M of his $4.5 M salary for 2012 becomes bonus pro rated over 4 years— Ed Bouchette (@EdBouchette) February 21, 2012
Steelers Depot has a little bit more information on just how much money against the cap the Steelers will be saving as a result of this Contract.
The restructure on Willie Colon drops his 2012 cap hit from $5.7 million down to $2.85 million. #steelers— Steelers Depot (@Steelersdepot) February 21, 2012
That's not a ton of money, but every little bit helps when there is as much work to do as the Steelers need done to get under the cap.