Steelers Will Not Franchise Tag Mike Wallace
Per a report from ESPN’s Adam Schefter, the Pittsburgh Steelers will tender coveted receiver Mike Wallace in preparation for the upcoming free agency period rather than placing a $9.4 million franchise tag on him.
With yesterday’s news that they intend to release Hines Ward and Ben Roethlisberger’s contract restructuring, the Steelers now find themselves close to $3 million under the salary cap, which is close to the highest qualifying offer for Wallace.
A tender simply means the Steelers have a chance to match any offer for Wallace from other teams, and if they can’t afford to do so they receive a first round pick in exchange.
Wallace has led the Steelers in yards and touchdowns each of the last two seasons, and we haven’t even hit the tip of the iceberg in terms of what Wallace is capable of. The Steelers brass seems to share that notion, as GM Kevin 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.”