The Pittsburgh Steelers pulled off one of the biggest moves throughout the NFL when the organization made a deal with the Seattle Seahawks to acquire star wide receiver DK Metcalf. Pittsburgh had been searching for an upgrade at the receiver position for well over a year, and General Manager Omar Khan was finally able to get a deal done after coming up short in 2024. It was quite the investment from the Steelers as the team gave up its second-round selection in the 2025 NFL Draft while also signing Metcalf to the most lucrative contract in franchise history.
Some fans are always skeptical whenever a team makes an a big move like the Steelers did. Getting rid of a Day 2 pick is always questionable, as is making a large financial investment. However, Khan is one of the best in the league when it comes to managing the cap, and the general manager constructed Metcalf's new deal in a great way for the franchise.
The wide receiver's new deal was announced as a five-year contract worth $150 million, which is true, but there are certain nuances in the extension. The contract can basically be broken down into two parts. The first two years which are fully guaranteed, and then the final three years are essentially one-year deals if the Steelers decide to continue with the contract. Insider Mike Florio broke down the deal on Thursday night.
"It’s a guaranteed two-year, $60 million deal with team held options for the balance of the contract," Florio wrote. "He gets $26.5 million in 2027, $28 million in 2028, and $35.5 million in 2029 — if the Steelers choose to continue the deal."
The Steelers had plenty of money moving forward to make a big deal, but the organization still constructed the contract in a way that it cannot hurt it in the long run. The money on the deal from 2027 through 2029 is non-guaranteed, which will make Metcalf easier to release or trade. The dead money on the deal is minimal, which gives Pittsburgh flexibility.
After the first two years of the deal, Pittsburgh will likely be making a decision after each season whether or not to keep Metcalf moving forward. He has roster bonuses ahead of the 2027, 2028, and 2029 seasons which usually take effect around the start of the new league year in March. This would give Pittsburgh a firm date to get out of the deal if they would like to.
Florio broke down the contract further, discussing how the deal is backloaded.
"That last year is high," Florio wrote. "Will they pay him $35.5 million in the fifth year? If they don’t, it becomes a four-year, $114.5 million deal. With an average of $28.625 million. Or it can be a three-year, $86.5 million deal. Putting the average at $28.83 million."
There was some controversy after Pittsburgh signed Metcalf to the extension, with some people stating that the receiver wasn't worth $30 million per season. The way the market is trending, he certainly is worth $30 million per year. Everyone should have expected the deal to look something like this.
Steelers Deliver Straightforward Deal For DK Metcalf
Many players around the league have several incentives built into their contracts. This may include bonuses per game, statistical milestone bonuses, and postseason bonuses. Pittsburgh included none of this in its deal for Metcalf, which shows the organization's belief in the receiver to produce no matter what the circumstances are.
Metcalf currently doesn't know who his starting quarterback is going to be for the 2025 season, but the situation doesn't look very promising. The wide receiver is going to be relied upon to make plays while being a leader on the offense.
