Friday is the (only) day the Steelers can slash WR Mike Wallace’s still-unsigned one-year restricted free agent tender worth $2.72 million to $577,000 for the upcoming season, but they won't do that.
“That’s never been an intention of ours,” Steelers general manager Kevin Colbert told 105.9 The X’s Mark Madden yesterday. “When we tendered Mike at the amount we did, the compensation through that tender, we really had no issue with that whatsoever because he is deserving of that.”
Wallace reportedly wants somewhere in the neighborhood of $12-16 million a year, which would put him among some of the top paid receivers in the league.
The Steelers will not pay Wallace that kind of money because they don’t believe in paying a receiver as much as their franchise quarterback.
If Wallace elects to hold out, he'd be going the route that Vincent Jackson took two seasons ago. He would have to return after the team's Nov. 12 game so that he doesn't lose an accrued season and remain a restricted free agent.