The Pittsburgh Steelers were projected to be around $30 million over the estimated $124 million 2012 salary cap just two weeks ago.
Now, with the successful restructuring of quarterback Ben Roethlisberger's contract, the team has shaved down $29.37 million of that in just 14 days' time.
Roethlisberger's restructure has saved the team around $8 million, according to Scott Brown of the Pittsburgh Tribune-Review.
The team has several options to get comfortably under the cap, including restructuring linebacker James Harrison's contract, or cutting guard Chris Kemoeatu, receiver Hines Ward or linebackers James Farrior and Larry Foote.
The Steelers might not have to cut any of these players to get under the cap, it's likely that one or more of them will become financial collateral damage while the team continues to pursue a new deal with wide receiver Mike Wallace, who becomes a restricted free agent in March.
To franchise Wallace would cost the Steelers over $9 million, and signing him to a long-term deal could cost the team significantly less in 2012, depending on how it is structured.
Right now, cap zero is the Steelers' most pressing financial situation, and they're extremely close to accomplishing it. Next is getting under the cap enough to pay their 2012 rookie class and then having enough money to make a worthwhile offer to Wallace.
It seemed nearly impossible two weeks ago for the Steelers to get under the cap. Now that they're nearly there, the rest of their offseason goals seem less out of reach.
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