Ike Taylor Accepts Pay Cut

8:25pm: It’s a straight pay cut for Taylor, according to Ed Bouchette of the Pittsburgh Post-Gazette (via Twitter). Taylor’s salary is reduced from $7MM to $2.75MM, saving the Steelers $4.25MM in cap space. No extra years were tacked on to the deal.

6:18pm: Steelers cornerback Ike Taylor has appeared to restructure his contract, accepting a pay cut in the process, according to a tweet from Taylor himself. The veteran corner sent out a message stating: “The INK is about to dry on this paper…im a lifer…will retire as a ROONEY and a LEBEAU,” referencing Steelers owner Dan Rooney and Steelers defensive coordinator Dick LeBeau. Jason La Canfora of CBSSports.com indicated that the restructure will involve a pay cut (via Twitter). Taylor was scheduled to earn a base salary of $7MM in 2014.

Taylor, 33, has spent his entire career in Pittsburgh after being drafted in 2004. In 2013, he accrued 63 tackles but no interceptions, and graded as just the 97th-best corner according to Pro Football Focus. For the Steelers, the move comes out of necessity as the team desperately needs salary cap space. They also restructured the deals of Antonio Brown, Troy Polamalu, and Heath Miller, and released Levi Brown and Larry Foote.

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