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Jeremy Fowler of ESPN released his top 50 free agents of the 2021 offseason and he had one player landing with the Steelers, who are projected to be around $30 million over the cap, so it's uncertain if the Steelers can even sign an outside free agent.
Fowler sees the Steelers as the best fit for cornerback William Jackson III, who he ranked as his 40th best free agent. The Steelers wanted to draft Jackson in the 2016 NFL Draft, but the Bengals selected him at 24th overall right before the Steelers picked at No. 25. The Steelers then reached by selecting cornerback Artie Burns, who only lasted four years with the Steelers and is currently with the Bears.
Mike Hilton and Cam Sutton are set to become unrestricted free agents in March and Joe Haden and Steven Nelson are on the last year of their contracts, so cornerback could be a need to address, but I see the Steelers doing that through the draft rather than spending money that they really don't have on Jackson.
Haden turns 32 in April and the Steelers would save $7 million in cap space if they release him as a cap casualty. That would be the only scenario where I could see the Steelers going after Jackson if they could get him for cheaper.