The Pittsburgh Steelers wasted no time making their first round of cuts for the 2024 offseason, but there are still some big names on the roster who could find themselves looking for a new team soon. One of those big names is Patrick Peterson.

The first round of cuts saw the Steelers move on from Mitch Trubisky, Pressley Harvin III, and Chukwuma Okorafor, who all started for the team in the past.

That round of cuts still left the team with decisions to make on Peterson and wide receiver Allen Robinson.

During the February 15 episode of his “All Things Covered” podcast, Peterson addressed his situation with the Steelers.

“The question is if the Steelers want me to finish with them. I signed a two-year deal for a reason,” Peterson told his co-host.

Patrick Peterson’s Season With the Steelers

In 2022, Peterson showed that he still had something left in the tank during a solid second season with the Minnesota Vikings.

In that season, he intercepted 5 passes, defended 15 more, and made 66 tackles as part of a Vikings squad that earned the third seed in the NFC.

That solid output in his 12th NFL season led to a deal with the Steelers worth $14 million over two years.

Unfortunately, he started to show signs of decline in his 13th season.

Peterson has started to get slower and as a result, struggled in coverage on the outside.

The Steelers were still able to find spots he could help out elsewhere on the defense during the season. He spent a lot of time playing in the slot and at safety.

With a role in those two positions, Peterson managed to play 97% of the team’s defensive snaps during the 2023 season.

It made him a useful piece for the Steelers, especially as the defense was hit by injuries. However, it might not be enough to justify the big cap hit Peterson carries.

Still, there might be a way for Peterson and the Steelers to work out a way for the corner to return in 2024.

A Potential Pay Cut

Peterson has been seen as a potential cap casualty for the Steelers since the start of the offseason, but there does appear to be a way that he could stay with the team.

The Pittsburgh Post-Gazette’s Ray Fittipaldo believes Peterson will be released unless he takes a pay cut to stay with the team.

“Better than 50/50 unless he takes a pay cut to return. That’s my analysis. Can’t see them taking on a $10 million cap hit for a guy who can no longer play outside. And you don’t keep that cap hit for a hybrid safety rotational type player.”

If the Steelers were to let him go, it would save them almost $7 million in cap space for the 2024 season.

The team has a clear deadline to make their decision on Peterson. The former All-Pro corner is due a $3 million roster bonus on March 16.

Pittsburgh will have figured out what the future holds for Peterson before that date comes around.

Fans will just have to wait to see whether Peterson wants to stay with the Steelers badly enough to take a pay cut to stick around.