Levi Wallace Salary, Net Worth, Contract
|Levi Wallace Salary||$4,000,000|
|Levi Wallace Net Worth||$8,000,000|
|Source of Income||NFL|
|Levi Wallace Forbes (Market Value)||$5,035,000|
|Total Contract Value||$8,000,000 (2 years)|
The Pittsburgh Steelers have made a noteworthy acquisition to their roster by signing Levi Wallace, a cornerback who previously played for the Buffalo Bills. The contract he inked guarantees him $2,965,000 as a signing bonus and an equivalent amount as guaranteed money. The deal is worth $8 million for two years, with an average annual salary of $4,000,000.
Looking ahead to 2023, Wallace will be compensated with a base salary of $4,000,000, and that year will be when the Pittsburgh Steelers will bear the brunt of his contract, carrying a cap hit of $5,482,500. However, if the contract is terminated early, the dead cap value for the team would be $1,482,500.
Wallace’s addition to the Pittsburgh Steelers’ roster is of significant importance, as it bolsters their defense with a player who brings experience and talent to the team. It remains to be seen how he will perform, but the terms of his contract indicate that the team has high expectations for him. With Wallace on board, the Pittsburgh Steelers have further strengthened their defense, and it will be interesting to see how they perform in the forthcoming seasons.
|Year||Yearly Base Salary||Cap Hit|
Levi Wallace, a football player formerly unselected by any team from the University of Alabama, has come a long way since he made his debut in the NFL in 2018. In his rookie year, he impressed the Buffalo Bills and, subsequently, established himself as a starter in 2019 and 2020, with 99 tackles, 3 interceptions, and 27 pass deflections in 32 games. However, despite his solid performance, the Bills released him in March 2021, creating an opportunity for the Pittsburgh Steelers to sign him to a 2-year, $8 million contract.
The contract includes a $2.965 million signing bonus and $2.965 million guaranteed, meaning that Wallace will receive at least $5.93 million regardless of his on-field performance or roster status. His average annual salary of $4 million puts him in the middle tier of NFL cornerbacks. In 2023, he will receive a base salary of $4 million, which is fully guaranteed, and he will count $5.4825 million against the Pittsburgh Steelers salary cap. The dead cap value of $1.4825 million implies that the team could release him after the first year without incurring significant financial loss.
Wallace’s signing fills a pressing need for the Pittsburgh Steelers, who struggled to defend the pass in the 2020 season, allowing 285.0 yards per game, the second-worst mark in the league. With his size (6’0″, 179 lbs) and athleticism, Wallace has the potential to play outside or inside cornerback in the Pittsburgh Steelers scheme, which prefers man coverage and blitzes. His experience as a zone corner in the Bills’ defense could also help him adapt to the Pittsburgh Steelers’ zone concepts.
In 2020, Wallace had a coverage grade of 67.2, ranking 54th among qualifying cornerbacks, according to Pro Football Focus. Although not an elite score, it is still above average and indicates his ability to contest throws and break up passes. His performance in tackling and run defense also improved, with a grade of 73.1, ranking 24th among cornerbacks. He could become a valuable asset for the Pittsburgh Steelers secondary if he continues to progress.
|Levi Wallace Net Worth over the years|
As of February 2023, Wallace’s contract ranks 77th among NFL cornerbacks in total value, 63rd in average annual salary, and 41st in guaranteed money. Other cornerbacks, such as Xavien Howard (5 years, $76.5 million), Jalen Ramsey (5 years, $105 million), and Tre’Davious White (4 years, $70 million), have received more lucrative deals in recent years.
However, it is important to note that the cornerback market fluctuates in response to supply and demand, as well as changes in the league’s revenue and salary cap. For instance, the COVID-19 pandemic reduced the 2020 salary cap from $198.2 million to $182.5 million, impacting teams’ ability to spend big on free agents. Therefore, Wallace’s contract could be seen as a prudent and modest investment for the Pittsburgh Steelers, who needed to enhance their cornerback depth.