Contract Extension Stock Watch: Part 3- Steelers

This article is the third of a 32-part series where we look at players from all NFL teams entering their contract year, their performance, and their team's financial situation. Still in the same division, we have the Pittsburgh Steelers, and we'll be looking at 25-year-old outside linebacker Alex Highsmith as he enters his fourth year.

Production

Despite initially being a walk-on at a bottom-tier FBS school in Charlotte, Alex Highsmith continued to rise up the depth chart and defy the odds throughout his 4-year career. The outside linebacker's record-breaking senior year would turn out to be the pinnacle of his college, as he amassed an impressive 14 sacks in 13 games played. Still, as an unpolished prospect from a small school, Highsmith was unable to gain the respect from NFL teams that his numbers warranted. He would eventually get selected with the 102nd pick of the 2020 NFL Draft in the third round by the Pittsburgh Steelers. For most of his rookie year, Highsmith was relegated to a backup role behind superstar T.J. Watt and aging veteran Bud Dupree. However, with Dupree injured for the last 5 games, he was thrust into a starting role and flashed during multiple instances. To the pleasant surprise of the Pittsburgh front office, Highsmith earned himself a starting role to start his sophomore season, and some consider this his mini-breakout season, posting 6 sacks and 74 tackles while playing 16 games. However, this past season, Highsmith's third, was when he truly exploded as a pass rusher. He recorded 14.5 sacks, good enough for top 5 in the NFL, and not only did he get to the quarterback, he created chaos when he got there with 5 forced fumbles as well. His impressive production gave him serious Pro Bowl consideration, although he came up short. Playing across from superstar edge rusher T.J. Watt, Highsmith's toughness, drive, and athleticism give the Steelers one of the league's most valuable pass rushes. He has continuously received praise from staff and fellow players, and despite his low draft capital, a lucrative deal can be expected in this upcoming season. The question is, where?

Contract Situation

Highsmith's value to Pittsburgh in his short career has already been clearly expressed, especially on such a cheap deal worth 4.5 million over 4 years. For now, the Steelers are in the clear financially, looking at a cap space of roughly 13.6 million for 2024, and no other significant extensions to sign outside of Highsmith. So, the only obstacle in extension talks between the Steelers and the outside linebacker will be how valuable the team thinks Highsmith is and to what extent they'll pay for a position that is so costly. Recent extensions for players of similar caliber are always a good indication as to what type of deal could be made, and a good comparison for Highsmith would be Titans outside linebacker Harold Landry III. Last offseason, 25 years old at the time and coming off a 12 sack regular season and great postseason, he signed a 5 year, 87.5 million deal. It should be noted that Landry's speed and style as a pass rusher was a perfect fit for Shane Bowen's defense, and that made him even more valuable to Tennessee. Highsmith will turn 26 in about a month, so it is possible the Steelers aren't aiming for a deal as long as 5 years. Also, although Highsmith may not be at his caliber, a deal that could be brought up during extension talks would be Bradley Chubb's 5-year, 110 million deal with the Dolphins this past season, which speaks to the lucrative pass rushing market.

Conclusion

Ultimately, the Steelers found an absolute diamond in the rough during the 2020 draft, and he possesses skill as a pass rusher that most in the league can only dream of. Despite how expensive the market for players like Highsmith is, pairing him with an already locked-up T.J. Watt means that opposing quarterbacks would face nightmares every matchup for multiple years. With a lot of money to spend and no significant extensions looming, I believe a contract along the lines of 4 years, 70 million would make sense for both sides. Highsmith will certainly be a player to watch in the upcoming months as extension talks, training camp, and preseason ensue.