The veteran cornerback used his Twitter account Monday to share the news that he'll be back for a 12th season in the Steel City.
NFL Media Insider Ian Rapoport and NFL Media's Aditi Kinkhabwala reported Monday that Taylor took a pay cut from the $7 million he was due in 2014 to remain with the team that selected him in the fourth round of the 2003 NFL Draft.
The Pittsburgh Post-Gazette's Ed Bouchette reported that the cornerback agreed to a one-year deal for $2.75 million in a move that will save the team $4.25 million in salary cap space.
The 33-year-old's play dipped last season, leading to speculation that Pittsburgh would sever ties with one of its defensive fixtures.
Taylor has been a starter at cornerback in Pittsburgh since the 2005 season. He'll likely be on the field with William Gay and Cortez Allen in three-corner packages.
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