Watt agreed Thursday with the Steelers on a restructured contract, Ian Rapoport of NFL Networkreports.
Watt's restructured deal will free up $880,000 in cap space for Pittsburgh, with the team likely converting some of his base salary into a signing bonus. Though he didn't handle any carries during his inaugural campaign with the Steelers last season, Watt played an important role as a blocker and special-teams contributor when healthy.