Ed: Holding Out a Wallace Right Thursday, 12 April 2012 07:43 Written by Ed Bouchette
ESPN’s Adam Schefter reported that Mike Wallace will not sign his RFA tender with the Steelers and thus will not participate in any of their spring workouts.
It looks as though Wallace will work the system, just as the Steelers have done so with him. His contract expired, making him a free agent, yet a restricted one because only those with at least four seasons in the league can become unrestricted when the contracts with their teams expire.
There are rules to govern both sides. Wallace was free – and still is until a week from tomorrow – to solicit offers from other teams and sign one. If he does, the Steelers can match it and keep him under the terms he signed with the other team, or decline and receive a first-round pick in this draft from the team that signed him.
If he does not sign elsewhere, Wallace’s rights revert to the Steelers, who have tendered him a one-year contract worth $2.742 million for the 2012 season. He can refuse to sign his tender and sit out as long as he wants. However, if he does not sign by Nov. 13, he must sit out the season and he would lose 2012 as an accrued season – and will be restricted, not unrestricted, again in 2013. Obviously, the latter won’t happen. Somewhere along the line, Wallace will blink because he has too much to lose.
It looks like he will stay a Steeler. I would guess he will get a contract signed around the start of training camp. Its funny how few signings there are in the 2~3 weeks before draft.
Last edited by tuck rule on Sun Apr 22, 2012 8:10 pm, edited 1 time in total.
tuck rule wrote:It looks like he will stay a Steeler. I would guess he will get a contract signed around the start of training camp. Its funny how few signings there are in the 2~3 before draft.
Sounds like collusion to me. The owners want to make as much cash as they can so they have restricted rookie contracts, hinting at more money to give to vets who have proven they can play. Now we have a vet who is getting Big Benned as the owners have shown little interest in rewarding stars. Seriously, not one team figures that Wallace is worth the money? Not one team figures that offering him big money will force the Stillers to match of greatly harm their O?
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Wallace is in a tough spot (ala Desean Jackson last year). He has performed well enough to deserve a raise. His speed is a weapon, but in the end, he's got that clause in there and his height doesn't warrant a huge contract, imo
You don't know if there are character issues as well and if he does sign something lucrative, does he lose his motivation. I think something like this comes down a draft day trade...and with the cap restraints and Wallace's unwillingness to play for tender offer, it makes too much sense. It's not that there arent teams interested either. I can think of at least a half dozen that he fits in their offense. I just think no one wants to show their hand coming into the draft.
Although I don't suspect outright collusion, and I've read the extinction article before, I still think that the owners think a lot alike on restricted free agents. Otherwise, why wouldn't a team like my Pats make Wallace an offer right off? They'll get a late draft pick like usual with another good finish this year, so it's not like giving up a first would cost them the likes of Andrew Luck, and a quality receiver would be worth the price tag. So basically that leaves us with not wanting to piss off the Steelers ownership, since they'd likely match anything offered to Wallace. Keep this in mind too. For a team with a glaring need at WR, why take a chance at a draft pick who could be the next Charles Rogers, when you have a proven player in Wallace? There has to be an unspoken rule of, "You don't touch our players, we don't touch yours."
the first issue is his contract demands....he wanted Fitzy money.....and no way is he worth that.....and just offering him a contract binds no one....he has to accept before the steelers would have had to match. i think on the open market he get a great deal but not Fitz money.....
timeline.....he has to sign the Tender by June 15th or the team can drop the offer, like SD did to V Jackson, so if he doesn't sign he's costing himself 1.5 million or something close......but he doesn't have to report until week 10 and play the last 6 games of the year to accrue his year of service and get to free agency next year.
So if not June 15th, then big pay cut....then might as well sit out until November.......and go to free agency next year...unless they franchise him!!
Ike Taylor expects Mike Wallace to be at Steelers camp By Brian McIntyre Around the League writer Published: June 24, 2012 at 10:59 a.m. Updated: June 24, 2012 at 11:22 p.m.
Pittsburgh Steelers wide receiver Mike Wallace is the lone restricted free agent yet to have signed his one-year tender, which would pay him $2.742 million in non-guaranteed base salary.
The Steelers opted to not reduce the one-year tender even though it was within their rights. However, the move does not guarantee that Wallace will report on time for training camp. But his teammates don't seem to think that will be an issue.
Cornerback Ike Taylor became the latest Steeler to predict that Wallace will be in camp.
"He's going to be there (training camp)," Taylor told Albert Buford of The Times-Picayune on Saturday. "They'll get it done. When you talk about that kind of money, it's not an overnight type of deal. By the end of the day, I think for sure he's going to get that thing done. Both sides are working together, so that's a good thing."
Taylor's comments echoed what quarterback Ben Roethlisberger said earlier this month.
La Canfora: Steelers, Mike Wallace continue to make progress on new deal By Will Brinson | Senior NFL and Golf Blogger July 19, 2012 4:20 pm ET
The time to sign players tendered a franchise tag has come and gone, but the pink elephant that is Mike Wallace still remains in the Steelers living room, with Wallace potentially holding out of camp, unhappy with his $2.72 million tender.
CBSSports.com's NFL Insider Jason La Canfora reports Thursday that the parties are in "close contact" and that the two sides continue to make progress on a new deal.
"The sides have remained in close contact and continued their dialogue and are expected to maintain a steady pace with the start of training camp looming," La Canfora reports. "There has been some movement and though no deal is imminent and work remains to be done, the situation has certainly improved since early this offseason. Both sides are motivated to complete a long-term contract."
La Canfora also pointed out that the Steelers aren't shy about locking up their young talent. CBSSports.com's Ryan Wilson broke this down as well earlier, pointing out that LaMarr Woodley, Lawrence Timmons and Troy Polamalu all got long-term deals after training camp began.
So there's certainly reason for optimism if you're a Steelers fan that the team will be able to get Wallace locked down before the season begins.
The Steelers have cut their reserve tackle Jon Scott, whose salary was at 2.2 Million this year. This likely signifies an impending signing of Wallace, with TC coming up, and cap space freed.
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