For one, this would hopefully free up some salary cap space, and I think it would be beneficial to keep him around for the next few seasons to lead that defense on the back end. He's only 28 too. I would like to keep him in Pittsburgh long term.
This season, he's carrying a $14,420,000 cap hit. That's pretty unacceptable for the Steelers to leave that much money on him this season with so many needs. I think that if we extend him for another few years we would get some much needed cap relief and also provide security for the cornerback position.
I think the Steelers could also do something similar with Joe Haden to lock him in for another year after this season and still provide some instant cap relief. I'm personally not really sure why the Steelers haven't made these moves yet. I predict that these moves will be made a few days before Free Agency. We are going to need it.
I also think that the duo of Haden and Nelson has been solid in Pittsburgh. It hasn't been perfect, however, I can remember the times when we had nobody back there in the cornerback position. The days of Valentino Blake, Artie Burns and Ross Cockrell. Oh, memories...
The Steelers have spent big at the CB position and it has finally paid off. Now, they just need to spend a little less to help out the rest of the team and try to keep the band together for a chance at 7.