Decorated DB could need to take pay cut to stay with Steelers

The Steelers already made a few cuts on Monday as they attempt to get under the salary cap ahead of free agency and the new league year, which starts on March 13 at 4 p.m. ET. But they are still projected to be $7.44M over, so more releases may be on the way.

Patrick Peterson, who said he wants to play in 2024, could be among those cut as he seems to be unsure if Pittsburgh wants him back next season.

"Come on Mac," Peterson told Bryant McFadden when asked if he wants to keep playing on his "All Things Covered" podcast. "You know I [want to]. The question is if the Steelers want me to finish with them."

Some may be surprised if the Steelers were to part ways with the eight-time Pro Bowler this offseason. But the Pittsburgh Post-Gazette's Ray Fittipaldo is not one of them and thinks Peterson will need to take a pay cut if he hopes to stay.

"Better than 50-50 unless he takes a pay cut to return," Fittipaldo said. "That's my analysis. Can't see them taking on a $10 million cap hit for a guy who can no longer play outside. And you don't keep that cap hit for a hybrid safety rotational type player."

Peterson signed a two-year, $14M contract last offseason, but the Steelers can save $6.85M in cap space if they were to cut him, per Spotrac.

That's looking more and more likely as Peterson will be 34 at the start of next season and he was consistently picked on in 2023, forcing him and the team to consider a position change to safety.

The 13-year veteran thinks the switch to safety could extend his career, but he knows it is in the Steelers hands after making his plea to head coach Mike Tomlin at the conclusion of the 2023 season.

"Me and Coach Tomlin had a great conversation after the season," Peterson added. "I told Coach Tomlin at the end of the year when we had our exit meeting, I feel great. My mental is in the right place. My body is in the right place. I want to give it another shot."