The Steelers put an end to their biggest remaining offseason storyline on Thursday, signing star outside linebacker T.J. Watt to a three-year, $123 million extension.
The contract’s per-year average is $41 million, $1 million more than Myles Garrett’s deal, making Watt the current highest-paid non-quarterback in NFL history.
As with every contract, the details tell the full story. Per a report from Pro Football Talk’s Mike Florio, Watt’s deal is structured as follows (cap numbers per Over the Cap):
2025: $4 million base salary, fully guaranteed — $23.4 million cap hit
2026: $32 million base salary, fully guaranteed — $42 million cap hit
2027: $32 million base salary, fully guaranteed — $42 million cap hit
2028: $21.05 million base salary with $15 million offseason roster bonus due in March (neither guaranteed) — $46.05 million cap hit
Watt’s deal includes $108 million guaranteed from 2025-27, including a $40 million signing bonus. The last year of the deal, 2028, is not guaranteed. By then, Watt will be 34.
Per OTC, Watt would cost just $10 million in dead cap space if cut in 2028. His highest cap percentage is projected in 2026, where it’ll be 14.2%.
In 2025, Watt’s cap hit decreased around $7 million thanks to the extension. Per Spotrac, that leaves the Steelers with around $32.3 remaining in top-51 cap space.
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