The latest came when the Steelers restructured the contract of cornerback Ike Taylor. A source with knowledge of the situation told ProFootballTalk.com Friday that Taylor, who signed a four-year deal before last season, agreed to convert $4.925 million of his base salary into a signing bonus. The maneuver pushed $3.28 million in cap space into future years, according to the report.
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The Pittsburgh Post-Gazette reported Thursday that linebackers LaMarr Woodley and Lawrence Timmons had also agreed to restructure their contracts. Woodley's $5.5 million roster bonus due in March was converted to a signing bonus, as was $2.7 million of his $3.4 million in salary in 2011.
The Steelers also cut salary by releasing two veterans -- cornerback Bryant McFadden and receiver Arnaz Battle -- on Wednesday.
McFadden opened the 2011 season as a starter, but was injured in the first game, leaving William Gay to take over the job. The Steelers drafted McFadden in the second round in 2005.