NFL Rumors: Why Mike Wallace Isn't Likely to Remain with Pittsburgh Steelers

The Pittsburgh Steelers would like to keep Mike Wallace, but with little salary cap space and good depth at the wide receiver position, not re-signing their star would cripple the team's chances of contending for the AFC title.

Via CBS Sports' Clark Judge:

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While general manager Kevin Colbert and team president Art Rooney II insist that keeping Wallace is "a priority," signing wide receivers to long-term contracts isn't Pittsburgh's practice ... nor has it been since free agency began.

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Judge also points out that the Steelers have let talented receivers go in the past, yet have still been able to make the playoffs consistently.

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That was nearly 20 years ago, and in that time the club retained one with a long-term deal: Hines Ward. Instead, they let guys like Plaxico Burress, Antwaan Randle El, Nate Washington and Yancey Thigpen walk and traded away Super Bowl MVP Santonio Holmes.

Result: They not only survived, they flourished, winning division titles and reaching Super Bowls without them.

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Like the New England Patriots, the Steelers are one of the few teams that can replace stars with lesser-known players and still compete at a high level.

The reason for that is the coaching of Mike Tomlin. He's one of the NFL's finest coaches and always has his players ready to excel when called on.

Even if the Steelers lose Wallace in free agency, they will be able to cope with his loss and still have a dangerous passing attack with star quarterback Ben Roethlisberger.

Since the Steelers put a first-round tender on Wallace, any team who successfully signs him away from Pittsburgh must relinquish a first-round pick. This would give the Steelers two first-round picks, which means they could use one in the draft to find a receiver, or use the extra pick to trade for an established receiver.

The Steelers have a bit above $10 million in salary cap space to work with this offseason, which means giving most of that to Wallace in a long-term deal likely isn't a smart move for the team.

When you look at the deals DeSean Jackson and Pierre Garcon received from the Philadelphia Eagles and Washington Redskins this offseason, respectively, Wallace could make even more since he has better stats and comparable talent.

All three players are 25 years old, but Wallace is the best of the group. He has gained more receiving yards per game (76.5) and has scored more touchdowns (18) than Jackson and Garcon over the past two years.

Jackson received a five-year, $51 million deal from the Eagles ($19 million guaranteed), and Garcon received a five-year, $42.5 million ($20.5 million guaranteed) deal from the Redskins. It's not crazy to think that Wallace could earn close to $60 million over the same five-year period.

Wallace will be expensive to keep, but with the Steelers having young receivers Antonio Brown and Emmanuel Sanders ready for larger roles, Wallace isn't indispensable. 

While Wallace allows Brown to work without double teams, Brown is still talented enough to be a productive receiver, even if defenses are paying more attention to him. Brown is also a restricted free agent after next season, and the Steelers would not have to spend just as much money to re-sign him long-term than to keep Wallace for the future.

The NFL is a passing league, and there are many teams that need to upgrade the talent and depth of their wide receiver corps.

If Wallace is still on the market in April, and there are still teams with cap room needing an elite receiver, then there's a chance he leaves the Steelers.

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"Basically, what happens," said one personnel director, "is that you start with your A-list guys in free agency—the Vincent Jacksons of the world. Then, if you whiff on them, you wait for things to settle and go for a B-list player. But if A and B don't work out, you start thinking of other options—and that's where someone like Wallace comes in.

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With some good depth at the receiver position, little salary cap space and the amount of possible teams interested in Wallace, I cannot see him remaining in Pittsburgh long-term.

Fortunately for Pittsburgh, their ability to draft well and get the most out of their players will help them cope with losing Wallace, if that happens, and still be a Super Bowl contender.

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