The Steelers aren’t close to a new deal with restricted free agent Mike Wallace and he is not expected to attend mandatory minicamp later this month. However, the Steelers are committed to doing a long term deal with him and are reportedly highly unlikely to decrease Mike Wallace’s tender, something they can do on June 15th. They have the right to decrease his tender from 2.742 million to 577 thousand, but they won’t do that, according to ESPN’s Chris Mortensen, because they feel that would be damaging to long term talks and don’t want to slap their #1 receiver in the face like that.
Mike Wallace said earlier this offseason that he was looking for Larry Fitzgerald money. Fitzgerald got 120 million over 8 years last offseason and in the time since Wallace asked for that type of money, Calvin Johnson got 132 million over 7 years. However, the Steelers probably don’t have the cap to do that type of deal even if they wanted to.
If he wants a long term deal, he’ll probably have to settle…
Source: Yardbarker: Pittsburgh Steelers
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