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Where's the Need?
Special teams have been an annual black hole for this team. Mike Tomlin fired special teams coordinator Al Everest before the regular season began. He'll likely be saying goodbye to Amos Jones as well. Under Jones, the special teams have been the worst unit in years.
Sometimes, a player can be of more help on specialty units than on offense or defense. A player like that, with field position so important in the NFL, can be worth more than an offense play-maker or defensive star at times.
The Steelers need to inject something into their coverage units.
Osgood has never been a big receiver, but he can play on offense when needed. He's very similar to former Pittsburgh receiver Arnaz Battle, a special teams ace that rarely caught a pass.
The Steelers need a special teams guy that can get the job done. The people they're putting out there right now couldn't stop a leaky faucet. They certainly can't stop returners from getting good field position.
Osgood can step into the last receiver spot, where the team must keep five players next season to prevent injury issues, and play on the coverage units.