Steelers elect to not franchise WR Mike Wallace

[Hasselbeck]

Leaves an open possibility for a WR needy team like New England or San Francisco to get creative and snag him for a low level 1st..

The Pittsburgh Steelers don't plan to place a franchise tag on restricted free agent Mike Wallace, according to an ESPN.com report.

The Steelers will tender him instead, which would allow them to match an offer from another team, or let him go and receive a first-round pick.

The highest qualifying offer for Wallace is about $2.75 million, nearly equaling the amount Pittsburgh is now under the salary cap, according to the report. Franchising the wide receiver would cost Pittsburgh $9.5 million.

At the scouting combine last week, Steelers general manager Kevin Colbert told reporters he intended to keep the former third-round pick.

"Having a great player like Mike Wallace is not a dilemma," Colbert said. "We're going to do everything we can to make sure that Mike Wallace remains a Pittsburgh Steeler and I think that's Mike's belief as well. Usually when you have two parties that share the same goal, it's easier to achieve that goal."

Wallace, 25, had 1,193 receiving yards and eight touchdowns in 2011. He has led the Steelers in receiving touchdowns the past two seasons.

http://www.mcall.com/sports/football/mc-mike-wallace-steelers-0301-20120301,0,3629703.story

 

[Aso]

It's hard to imagine the Steelers not retaining him somehow. I figured they would've released James Farrior (reports say he'll be released eventually) as well in a last ditch effort to franchise him and then possibly, eventually work out a long term deal.

 

[Shayn•Da•Pain]

Yeah I can't say the news inspires a lot of confidence in seeing him in Pittsburgh next year. Franchising him and structuring a long term deal seems like the most logical way to go about keeping him in town. Hopefully this means the talks with Wallace and his agent are very positive right now. I'd hate to see what this team looks like without Wallace on it right now.

 

[Tailback U]

Doesn't this mean a team can give up their 1st for him and offer him more money and Pittsburgh would have to beat the offer in order to retain him?

Or is it up to him?

 

[Hasselbeck]

Doesn't this mean a team can give up their 1st for him and offer him more money and Pittsburgh would have to beat the offer in order to retain him?

Or is it up to him?

Lets say the Patriots offer him slightly more than what Seattle paid for Sidney Rice last season.. something along the lines of 5 years, $42M..

If Wallace "signed" that offer sheet, the Steelers would then have the option to match the deal or let him go and take the Patriots 1st round pick as compensation.

Where it can get very bad for Pittsburgh is if a team laces the contract with specific language to make it very difficult to re-sign him. This is what is known as the "poison pill" and is what the Vikings did to the Seahawks to sign Steve Hutchinson. The Seahawks returned the favor with Nate Burleson, although it was more or less an indirect "fuck you" to the Vikings front office.

When a player is franchise tagged though, it makes it very difficult to lose that player. Since the Steelers didn't do that, the potential for Wallace to leave is much greater.

 

[Buzzman]

I thought the CBA got rid of the poison pill.

 

[St. Francisco]

I'd be willing to give up our 30th pick for Wallace.

 

[TuxedoYoda]

Gotta think the Texans would be all over him.

 

[Aso]

Gotta think the Texans would be all over him.

Doubt a run first time with Andre Johnson would want to give up a 1st rnd pick and a lot of money for Mike Wallace. I don't see him in Houston at all.

 

[JeremyHight]

If the Patriots don't make a play for him, they are just dumb. They stockpile picks just for these type of situations.

 

[RosettaStoned]

He obviously wants to stay in Pittsburgh.

http://espn.go.com/blog/nflnation/post/_/id/55993/report-wallace-wants-more-than-fitzgerald

 

[Len B]

If the Patriots don't make a play for him, they are just dumb. They stockpile picks just for these type of situations.

Doubtful. The Pats don't overpay for players, especially if they have to give up a high valued draft pick with it. They have to pay Gronk and Hern soon, no way they'd want to lock up that much on receivers.

 

[killgod]

The Patriots signing Lloyd pretty much says no to Mike Wallace.

 

[Rudi]

I'd love if the Bengals gave up our first rounder for him. Green + Wallace :fap: plus its taking a big weapon away from a division rival and putting him on our own team. Too bad Mike Brown is our owner and that will never happen

Edit- NVM just saw that link, he isnt worth that much LOL

 

[FirstTimer]

He obviously wants to stay in Pittsburgh.

http://espn.go.com/blog/nflnation/post/_/id/55993/report-wallace-wants-more-than-fitzgerald

:lol:

 

[Chrispy]

Can't stop looking at this gif over and over

:fap:

 

[JeremyHight]

Wallace should receive more than Desean or Vincent Jackson, he is younger and doesn't have as many possible negatives. But in no way should he get Fitzgerald or Johnson money. I'd say he gets about a 5 year, 60 million dollar deal, which would put him above the two Jacksons mentioned.

 

[SethMode]

:lol:

This is what growing a faux hawk does to the human brain.

 

[BigBucs]

Citing a league source, the Sacramento Bee reports that restricted free agent Mike Wallace is searching for a long-term contract in excess of the eight-year, $120 million deal signed by Larry Fitzgerald last August.
The Bee's Matt Barrows has been tracking the situation because the team he covers -- the 49ers -- made an inquiry about signing Wallace to an offer sheet. It's not happening if he insists on becoming one of the top three highest paid receivers in football. (Calvin Johnson and Fitzgerald are Nos. 1 and 2.) Wallace may still leave Pittsburgh if his asking price comes down, but the Steelers couldn't lock him up long term, either, on that lofty of a demand.

 

[Hasselbeck]

Wallace is out of his damn mind.