If your nitpicking is about the "multiples" - I can see that possibility. The rest of your post is full of misinformation.
This decision was not made by the Steelers. The Steelers tagged him because they wanted him, Bell chose not to sign it. Bell was the one to "move on". That "report" about the Steelers long term deal is repeatedly brought up, yet never confirmed, appeared to be leaked by the Steelers, and upon inspection even the leaked offer wasn't truly a $20m deal.
There is the risk he won't get t he amount of money he is after.... that is possible. I would personally bet on a long term deal with a guarantee the likes of Gurley and DJ (2X ish), and a total around $40 (multiples). We shall see.
eta - I believe you are one of those that repeatedly brings up the "offer" that up to recently only ever amounted to a rumor. If that was ever vetted out, please link. I haven't paid a ton of attention to it in a while. $20m guaranteed is still low, but would certainly change my understanding of the situation. ?
Yes, Bell made the decision to not sign the tender, and at that point, the Steelers gave it no more thought and made it known that if/when he'd report, he'd go another 2 weeks with a roster exemption. Maybe Bell wasn't initially intending for the holdout to last this long, things changed, whatever. It worked out great for the Steelers, because they haven't missed a beat and they have an extra $14.5M to play with next year.
I'm not the only one who's referenced the offer from the Steelers, but I have. The initial report was that the Steelers only offered him $10M in guarantees, which was a laughable report even at the time because the Steelers aren't a stupid organization. But there will never be a true verification of what the Steelers did or didn't offer him. The most "realistic" information came from Florio, and this offer was from before Gurley or Johnson got theirs. (If someone wants to argue Bell with his history is worth as much as Gurley, we can agree to disagree lol) Wasn't enough, end of story, and you won't find many if any Steelers fans who are sorry that it didn't work out.
Mike Florio of Pro Football Talk was the latest with some new nuggets of information to share about the deal Bell rejected on Friday, and if his source turns out to accurate, the contract the Steelers’ star running back turned down actually provided very similar guarantees to those given to Todd Gurley.
While it was publicly reported as a $60 million deal that included $45 million guaranteed, the reality of Gurley's contract is that the actual guarantees are worth just $21.95 million. The bulk of the remaining guarantees come in the form of roster bonuses and injury guarantees after 2019 and the Rams can still cut him at any point to avoid paying him significant portions of the deal.
Pittsburgh reportedly were offering Bell a $10 million signing bonus and ALSO a $10 million roster bonus in 2018, according to Florio. When added to the minimum base salary they could have paid him as per league rules, Bell would have been guaranteed $20.79 million in year one alone. A suggested cash flow of $47 million over the first three years of the deal sounds credible, given that would equate to around $13 million in 2019 and 2020 and likely made up of roster bonuses and a large base salary as the Steelers have done with other star players on the roster.
With Pittsburgh’s offer consistently having been reported as being worth in the region of $70 to $72 million over five years, that would imply earnings in the region of $12 million in each of the last two years of the offer. If all these suppositions hold true, the back end of the deal might have been a reason to reject the contract, but the level of guarantees were not