What's the question? His full Tagged amount is back off of the Steeler's books. All $14.4M.
Compensation could be for a 3rd rounder, but with all that cash, I expect the Steelers to be very active in FA this season. Pick up a shut down corner and an ILB for that price, and still have room for a Vet Z receiver. If the Steelers are active in FA, there will be no comp pick.
So after 4pm, Bell is unable to play at all in the NFL in 2018.
I'm not sure of the rules, but if him being ineligible to play in 2018 is set in stone, the Steelers could potentially cut him just to wash their hands of the guy.
I'm not sure if those rules apply, because cutting a tagged player immediately makes them a FA, and they can sign with anyone. Either way. The Steelers will make sure he will not play football in 2018, and may screw with his multiyear contract in the spring.