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The deadline for compensatory picks for next year to be included passed on Monday, so today Nick Korte of Ovethecap.com released his early projections and he has only two third-round compensatory picks being awarded in 2022, one going to the Lions for losing Kenny Golladay and one to the Steelers for losing Bud Dupree.
With the salary cap being reduced by almost $16 million this year due to the effects of the COVID-19 pandemic last season, fewer expensive free agents got hefty paydays, which means fewer third-round compensatory picks were handed out.
The Steelers are also projected to get a compensatory pick in the fifth round next year.
Alejandro Villanueva signed with the Ravens today on a two-year, $14 million deal with $8 million fully guaranteed, according to Ian Rapoport of the NFL Network. The Ravens were previously reported to be closing in on a deal with Villanueva but wanted to wait until after May 3 so it wouldn't be a part of the compensatory formula.
According to Korte, the Steelers would have received a fifth-round pick, as Villanueva signed for the same APY as Matt Feiler -- a player the Steelers are slated to get a fifth-rounder for after he signed with the Chargers this offseason. With the Ravens holding off on signing Villanueva, they also protected their fourth-round compensatory pick.
The Steelers traded a 2022 fourth-round pick to the Dolphins in this year's draft to select Wisconsin defensive end Isaiahh Loudermilk in the fifth round at 156th overall.
Steelers general manager Kevin Colbert said in the post-draft press conference that they traded up to get Loudermilk because they felt they would get a compensatory pick in the fourth-round range in 2022.