NFL Rumors: Mike Wallace Reportedly Likely to Remain with Steelers

Despite some talk that there could be teams lining up to acquire his services, it appears Mike Wallace is going to remain with the Pittsburgh Steelers for at least one more season, according to a report from ESPN's Adam Schefter.

Update: Friday, April 20th, 12:55 p.m. ET

Things are nearly official. ESPN's Adam Schefter gives us the latest via his Facebook page. 

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With 4 pm deadline approaching, no team has been willing to sign Steelers RFA WR Mike Wallace to offer sheet. Return to Pitt official at 4.

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Via ESPN.com:

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With Steelers restricted free-agent wide receiver Mike Wallace facing a Friday deadline to sign an offer sheet with another team, it now is expected that he will return to Pittsburgh for the 2012 season, league sources told ESPN NFL Insider Adam Schefter.

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When the offseason began, Wallace was thought to be one of the most coveted free agents available. He came with a steep price tag because he was a restricted free agent, meaning a team would have to pay him and give up a first-round draft pick. 

Still, you would think that someone would be willing to pay the price for a soon-to-be 26-year-old wide receiver who has averaged nearly 19 yards per catch and eight touchdowns in his first three seasons. 

As it appears there are no teams willing to come forward, the Steelers will get back their best big-play receiver. Wallace will come at a bargain too, as his tender is reportedly worth $2.7 million.

The Steelers should breathe a sigh of relief knowing they will likely have their deep threat on the sidelines when the season starts in September—though it is possible they figured the market would not materialize for him because of what teams would have to give up.

Wallace has emerged as the leader of this receiving corps, especially with Hines Ward retiring. He is a vital part of the offense and absolutely essential if Ben Roethlisberger wants to play at the level expected from him.

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