View Full Version : Sources: Offers for Steelers' Wallace not likely

04-19-2012, 11:37 AM
Interesting note in there about the leverage we have against Wallace sitting out camp if we are unable to get a deal worked out. If he chooses not to sign the $2.7 million tender by mid-June, we can screw him over and retain his rights for just $434,500 instead (his rookie contract was a 3 year deal for $1.74 million with a $555,000 signing bonus, meaning his yearly salary was $395,000 for each of his 3 years in the league so far...110% of that salary would be $434,500).

Sources: Mike Wallace likely to stay
Updated: April 19, 2012, 10:05 AM ET
ESPN.com news services

With Steelers restricted free-agent wide receiver Mike Wallace facing a Friday deadline to sign an offer sheet with another team, it now is expected that he will return to Pittsburgh for the 2012 season, league sources told ESPN NFL Insider Adam Schefter.

No team has made a significant run yet at Wallace, and it is not expected that one will, sources told Schefter.

Last month, sources told ESPN.com's John Clayton that the Steelers had made a one-year offer to Wallace worth a first-round tender -- meaning any team signing Wallace to an offer sheet would have to part with a first-round pick.

If Wallace does not sign his tender -- worth a reported $2.7 million -- by June 15, the Steelers can reduce it to 110 percent of last year's salary and still retain his rights.

Steelers team president Art Rooney II has said the team wants to sign Wallace to a multiyear contract.

Last month, The Sacramento Bee reported that the San Francisco 49ers inquired about Wallace during the first week of free agency, but did not pursue him because he was seeking a contract in excess of the eight-year, $120 million contract Larry Fitzgerald signed with the Arizona Cardinals.

Wallace caught 72 passes for 1,193 yards and eight passing touchdowns last season, all team highs. In three seasons, he has 171 catches for 3,206 yards and 24 TDs.

Information from ESPN NFL Insider Adam Schefter and ESPN.com AFC North writer Jamison Hensley was used in this report


Dee Dub
04-19-2012, 12:23 PM
No surprise. For some Steeler fans they couldn't accept this but had they been paying attention and not thinking with their heart, they would have known this all along. Just like with the O-line. Some seem to think the Steelers have to draft 4 to 5 O-lineman this year. Yet the Steelers have committed and made it known publicly to at least 4 of their O-line spots next season.

We need the emoticon where someone is getting ht in the head with a brick. :p

04-19-2012, 12:43 PM
No surprise. For some Steeler fans they couldn't accept this but had they been paying attention and not thinking with their heart, they would have known this all along. Just like with the O-line. Some seem to think the Steelers have to draft 4 to 5 O-lineman this year. Yet the Steelers have committed and made it known publicly to at least 4 of their O-line spots next season.

We need the emoticon where someone is getting ht in the head with a brick. :p

:HeadBanger This doesn't count? ;)

04-19-2012, 01:13 PM
The ability to reduce the tender to 110% of last year's salary takes away a lot of the hold out leverage. If he were to hold out through week 10 or whatever, he would end up with just a few hundred grand for this season.

04-19-2012, 01:45 PM
The good news:

If Wallace wants to play hard ball this year *and* possibly next year, the Steelers have all the leverage.

The bad news:

I would have thought the Steelers and Wallace would have come to an agreement by now or at least some type of positive news that talks are moving forward. We should prepare ourselves for Steleers football without Mike Wallace going forward.

04-19-2012, 02:04 PM
Wallace can take his "hard ball" and ego right out the door.

04-19-2012, 02:13 PM
Nothing wrong with a little hardball in the spring/summer. Both sides will try to get what they want and hopefully have an agreement before the pre-season.

Dee Dub
04-19-2012, 02:30 PM
:HeadBanger This doesn't count? ;)

No because this is the individual doing the hitting. These that I refer too need it done to them. This guy here (hitting his head on the wall), actually gets it.

04-19-2012, 03:51 PM
So no team wants to pay a "one trick poney" 120-mil and a 1st round pick?

I'm shocked.

04-19-2012, 05:40 PM
So a guy wants to be paid over 100M to play football? I'm surprised.

We'll find a middle road or he'll be gone. Not that hard. We have all the leverage...except he doesn't 'have' to play. Or he can come late and leave early, claim injured and get through this year.

It really benefits neither to not get a deal done. Both sides will give considerably. He won't get a free agent deal...because he's not a FA. Not will the Steelers get him for cheap.
One trick pony has alot of stats by his name. You can pretend to replace them, but without him, EVERYONE gets worse.

04-22-2012, 01:43 AM
Teams pass on Wallace, but what’s next (http://blog.triblive.com/steel-mill/2012/04/21/teams-pass-on-wallace-but-whats-next/)

April 21st, 2012
by Mark Kaboly

The deadline for teams signing restricted free agent wide receiver Mike Wallace to an offer sheet passed at 11:59 p.m. Friday night with no takers thus ensuring Wallace will be back for another year, baring an unlikely draft-day trade.

However, Wallace still has a handful of options that he and his agent Bus Cook will explore within the next couple weeks.

Reports surfaced last week that Wallace doesn’t plan to sign the first-round tender the Steelers offered any time soon, and doesn’t plan to attend voluntary offseason workouts that begin May 22.

The Steelers will hold its mandatory minicamp from June 12-14 that Wallace could skip and not incur any fine from the team because he still wouldn’t be under contract with the team if he doesn’t sign the tender.

June 14 will be the last time the team is together until the start of training camp set for the end of July.

Wallace has options, albeit limited, and not many that gives him any leverage, including holding out the entire year or holding out until after Week 10 that would allow him to become an unrestricted free agent next year.

If Wallace would choose to not sign his tender, it would cost him millions this year, thus making that option unlikely.

Wallace can choose not to sign the first-round restricted free agent qualifying tender the Steelers offered him last month that would guarantee him a raise of $2.16 million for the upcoming season.

However, if Wallace doesn’t sign his $2.742 million tender by June 15, under CBA guidelines, the Steelers could reduce their offer drastically to 110 percent of his $580,000 salary last year.
In order to do that, the Steelers must tender Wallace a one-year contract of at least $638,000 by June 1.

Wallace could accept the reduced tender, hold out until after the Nov. 12 game against Kansas City and become an unrestricted free agent after the season (Vincent Jackson did that two years ago).

If Wallace decides to hold out the entire year, he would lose an accrued season and still be a restricted free agent again next year.

The Steelers can still negotiate a long-term deal with Wallace up until their self-imposed deadline of the start of the season, but with Wallace reportedly wanting Larry Fitzgerald money ($16 million a year), it is growing more likely that Wallace will play out the final year of his rookie deal and test free agency next spring.

The Steelers could franchise tag Wallace next year, but with that number pushing well past the $10 million mark, that too is unlikely.

Wallace, 25, has started 34 of his 48 career games. He had back-to-back 1,000-yard seasons and 24 touchdowns in three years. His 18.7 yards per reception ranks first among active receivers and is in the top 25 all-time.

The Steelers re-signed veteran Jerricho Cotchery last week to go along with two third-year receivers in Antonio Brown and Emmanuel Sanders – both of whom will be restricted free agents next year.


04-22-2012, 11:12 AM
Seems like helping the Steelers win a Superbowl this coming year would be one of the best ways for Wallace to get his contract love when the season is over. Seems like the best chance for this to happen would be if he showed up for all team activities this spring, especially with a new OC coming on board.

Is there some huge contract leverage he'll get by NOT showing up? If not, why not just show up and be the best receiver you can be? Attitude goes a long way in contract evaluations ...

04-22-2012, 05:41 PM
Wallace is just one of those guys that is going to have to wait for his fat contract and hope he can continue to play at a high level and not get hurt. The Steelers have had grade A production out of him for a bargain price while overpaying for others (certain OL come to mind).

You win some and lose some. In this case, the Steelers have won big with Wallace. He, on the other hand has been a big part of a winning team, but hasn't made the cash that lesser players at his position have been able to get. Most athletes would tell you that winning is most important. But if you've been winning I'm sure you'd like to get paid too.