4. Larry Ogunjobi, DT (Post-June 1 Cap Savings: $9.75 million)
Larry Ogunjobi may well be the most intriguing salary cap figure on the Steelers roster at the precipice of the 2024 offseason. He was signed to bolster the interior of the defensive line depth and the veteran has been solid at times and worse at others. There is still some value there, but the financials of his contract make things even more curious.
As noted, the Steelers could potentially save $9.75 million by cutting Ogunjobi with a post-June 1 designation. That would be a huge boom for the organization who is currently a bit strapped when it comes to cap space, especially for a player who could seemingly be replaced easily by what Pittsburgh currently has on the roster already.
The flip side of that, however, is that Pittsburgh could also elect to make Ogunjobi a candidate for a restructure, which would save the club $4.27 million, but obviously with no dead cap. To keep a veteran presence alongside young players and Cam Heyward, would that be something that the front office would consider?
Ultimately, my vote would go to opting for the post-June 1 cut with Ogunjobi. The savings are more substantial to begin with, but the veteran was also relatively ineffective overall in the 2023 season. With Keeanu Benton and Armon Watts flashing hugely throughout the year, perhaps it would further behoove Pittsburgh to give that pair more snaps and simply let Ogunjobi loose at this point while also saving a substantial amount of money.