Steelers’ $132 Million Contract Praised as ‘Team-Friendly’

The Pittsburgh Steelers’ biggest move of the offseason was when they traded for and committed to star wide receiver DK Metcalf long-term.

According to ESPN NFL insider Dan Graziano, this was also one of Omar Khan’s best moves since taking over as general manager, at least in terms of contract value.

Graziano listed Metcalf’s four-year, $132 million contract extension as the most “team-friendly” wide receiver deal in the NFL right now as of June 27. First, noting that it includes “$60 million fully guaranteed at signing and $60 million in total guarantees.”

“This looks like a pretty sweet deal for Metcalf, who has averaged 73 catches per season in his six-year NFL career and has caught 90 balls in a season only once,” Graziano acknowledged. “But in the current galaxy of top wide receiver contracts, this one isn’t so bad for the team.”

“The Steelers will pay the 27-year-old Metcalf $35 million this year — a $30 million signing bonus and a $5 million salary — and $25 million in 2026,” he explained. “After that, it’s completely up to them. [Metcalf’s] 2027 salary of $20 million never becomes guaranteed, against injury or otherwise.”

Steelers’ DK Metcalf Contract Could Be ‘Two-Year Commitment’ & Metcalf Appears to Be Aware of That

As Graziano went on detailing the Metcalf agreement, he revealed what appeared to be an unspoken understanding between Pittsburgh and their new wide receiver.

“Metcalf does have a little bit of roster bonus protection,” Graziano wrote. “If he’s still on the roster on the third day of the 2027 league year, the Steelers will pay him a $6.5 million roster bonus. On the third day of the 2028 and 2029 league years would come a $5 million roster bonus in each.”

“So, if they wanted to cut him after 2026, they’d have to do it by the third day of the league year in March 2027 to avoid paying him another $6.5 million,” he pointed out. “But that’s not likely to be much of a deterrent if they go in that direction, and it appears Metcalf is aware of that being a potential tipping point.”

That’s when Graziano relayed a very interesting piece of information that only an NFL insider would know.

“Looking at a copy of his contract, [Metcalf] signed the page about the 2027 roster bonus with a smiley face next to his name,” Graziano reported. “He didn’t do that on any other page of the contract.”

“So this is really a two-year commitment, and both sides seem to know it,” the insider finally added. Concluding: “Given what top wideouts are making these days, how badly the Steelers needed one and Metcalf’s relatively young age, it’s a nice deal for Pittsburgh.”

Steelers Gave Themselves No-Lose Scenario on Metcalf Deal

As Graziano alluded, this is really a no-lose deal for the Steelers.

If Metcalf turns out to be an elite WR1 in Pittsburgh, then they have him under contract below market value. And they could simply keep him under contract in 2027 and beyond, until there is a noticeable decline in his play.

On the flip side, if Metcalf doesn’t live up to his price tag, either due to injury or lack of production, there are built-in “outs” for Khan and company.

So, while you want Metcalf to put together some of his best seasons with the Steelers — and it’s a win if he does — it’s also still not a total loss if he doesn’t.

Khan is a crafty NFL general manager when it comes to contract terms and details, and it appears he’s struck gold on another intelligent agreement here.