The general details of newly signed Steelers running back LeGarrette Blount’s contract have been released. The two year deal is for $3.85 Mil, including a guaranteed signing bonus of $950,000.  The deal also includes a performance incentive of $150,000, which Blount can earn if he gains 800 yards in the upcoming season.

While I do not know the specifics yet, it’s possible that his signing could move the salary cap needle as little as $785,000, leaving the Steelers with over $600,000 in salary cap space (ball park). Here’s a look at how it could likely be set up, and an explanation of the cap estimate.

[table]

Player, Year, Base Salary, Signing Bonus, Salary Cap Number

“Blount, LeGarrette”, 2014, “$730,000”, “$475,000”, “$1,205,000”

“Blount, LeGarrette”, 2015, “$2,170,000”, “$475,000”, “$2,645,000”

[/table]

While I can’t promise his 2014 base salary will be quite that low, you can be certain it will be structured similarly. Using this model, after displacing a low minimum salary from the top 51 (420 K), the salary cap impact  right now would only be $785,000. The Steelers are currently sitting at a little over $1.4 Mil in salary cap space. So, the signing of LeGarrette Blount could leave the Steelers with just under $700,000. I’ll update this when this year’s base salary number is available. However you cut it, this was a good signing at a good price.

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