Mike Wallace: Breaking Down the WR's Future in the NFL

Pittsburgh Steelers wide receiver Mike Wallace is the team’s highest-profile free agent, but his fate has yet to be determined.

A first-round restricted free agent, any team that comes calling will have to pony up not just a new contract for the 25-year-old star, but also their 2012 first-round draft pick. If no team snags him by the April 20 deadline, then he’ll make $2.74 million this year as a Steeler unless they offer him a new contract.

A new contract isn’t all that easy for the Steelers to give Wallace this year. They managed to fix their major cap issues and have a bit of extra cash on hand, but it might not be enough if a suitor comes calling.

At least that seems to be the case if the Sacramento Bee’s Matt Barrows is to be believed. He reported last week that the San Francisco 49ers contacted Wallace at the start of free agency and that he was asking for a long-term contract worth around $120 million.

With a price tag like that, no team will likely want to pick him up this year. While this buys the Steelers some time to make more roster cuts and contract restructures in order to give him an offer, they might not come up with the necessary cash.

That would make Wallace an unrestricted free agent in 2013. If the Steelers don’t have the money then, they can kiss Wallace goodbye. 

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