How the Steelers can construct a sensible Justin Fields contract extension.
Incentive clauses can protect both parties if the Steelers lock up the young QB’s services.
The Pittsburgh Steelers did a complete makeover of the QB room this offseason. While three new faces give the team something different from what they had in 2023, one criticism is that none of the new QBs is under contract after 2024. Russell Wilson is on the ultimate one-year prove-it deal.
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The Steelers were the only team offering him a chance to start and, at age 35, he may not get another unless he performs well. Backing up Wilson is young Justin Fields and journeyman Kyle Allen who will be on his fifth team in seven years. Until we see how the season unfolds, Fields is the one worth talking to about a contract extension.
With 38 starts at age 25, the NFL book on him has been started but hasn’t completely been finished yet. Some of the chapters in that book suggest that a team shouldn’t tie themselves to Fields as anything more than a backup though. No matter how 2024 plays out, having Fields under contract going forward with the right deal should be attractive to all parties.
Fields was acquired via trade for a conditional 2025 6th-round pick that could turn into a 4th with playing time. While some will say that his low cost was the league’s way of telling fans he is almost worthless, it’s important to point out there is more to trade value than just a player’s skill, history, and potential. When a player is traded in the NFL, the acquiring team also receives the existing contract for that player.
Fields is under contract for 2024 at $3.2 million with a fifth-year option for 2025 at $25.7 million. Reportedly, a half dozen teams were in talks with the Bears, but no team was willing to trade Chicago a high enough draft pick to commit to Fields as a starter for the $28.9 million two-year price of his contract. That fifth-year option kept some teams from pulling the trigger. If the Steelers do not exercise the expensive 2025 option, they have Fields to backup Wilson in 2024 for a very reasonable price.
But what about that book that hasn’t finished being written? What if some chapters get put on paper in relief of Wilson this year and suggest Fields is worth a longer stay in the Steel City? To this point in his career, Fields is very similar to 2015 first overall pick QB Jameis Winston at the same stage. Both have eye-popping raw skills in their strong arms and mobility. Both turn the ball over too much to be trusted as a franchise QB. Winston is heading into his 10th season as an NFL
quarterback, set to make $4M as a backup for the Browns. He was used as a bridge QB in New Orleans between Drew Brees and Derek Carr at a $14 million average salary. An incentive-laced contract that pays Fields backup money as a base, and bridge money as a starter, should satisfy all parties involved.
The NFL allows incentive bonuses to be written into contracts. For the purpose of the salary cap, it separates incentives into two categories: Likely To Be Earned (LTBE) and Not Likely To Be Earned (NLTBE). An incentive is classified as LTBE only if the player reached the incentive levels in the previous season. If not, the incentive falls under NLTBE. Only LTBE incentives are a hit to the current year’s salary cap. If a player reaches the incentive level of an NLTBE, the cap hit falls in the following year.
