2012 NFL Draft: How Will Mike Wallace's Situation Affect Steelers' Draft?

With April 20 marking the official end of restricted free agency, Mike Wallace was ultimately not signed to an offer sheet by another team (per Adam Schefter). This means that if he wants to play this season, he will either have to sign his restricted free agent tender or negotiate an extension with the Pittsburgh Steelers.

While these two options don't seem to be very problematic, it could be a long-term problem for the Steelers because of the monetary demands Mike Wallace has put up.

It was reported that Mike Wallace was seeking a contract exceeding the monetary value of Larry Fitzgerald's eight-year, $120 million contract.

Such a contract is out of the question for Mike Wallace, who, despite being very talented and deadly fast, is not the game-changing and dominating player that Fitzgerald, Johnson, Andre Johnson and a couple of other receivers are. 

Furthermore, the Pittsburgh Steelers simply can't afford to give out such a contract. They are already cap-strapped, unable to afford some of their own free agents. Restructurings and releases have helped them get under the cap this year, but it might complicate things in the future.

Analyzing Mike Wallace as a player, he has developed nicely after being a third-round pick back in 2009. Originally thought to be a rookie who would struggle with route running, he beat out Limas Sweed for the third wide receiver spot, replacing Nate Washington after he left as a free agent and signed with Tennessee.

Wallace proved his worth immediately, making big plays from his very first game against the Tennessee Titans.

In his next season, Wallace was called a one-trick pony by some, claiming he could not be a legitimate No. 1 receiver. All he could do was run deep routes by taking advantage of his blazing speed.

Wallace silenced doubters by proving that not only was he not a one-trick pony, but he had developed enough as a receiver to be more well-rounded and consequently a legitimate No. 1 receiver.

In his third year, Mike Wallace officially became the No. 1 receiver, with Hines Ward dropping in the depth chart. He started the season off with a series of great performances, showcasing not only his speed, but his great hands, and improved route-running ability.

He is the deadliest and most talented deep threat in the league, better than other talented deep threats such as Philadelphia Eagles wide receiver DeSean Jackson, Detroit Lions wide receiver Calvin Johnson, and Tampa Bay Buccaneers wide receiver Vincent Jackson.

There is no doubt that Mike Wallace is a top-10 wide receiver in the league, and he is the best receiver on the Steelers roster. There is no player who could legitimately replace him, or the effect he has on a defense.

Teams constantly have to keep a safety deep to prevent Mike Wallace from blowing the top off a defense. This, in turn, opens up thins underneath, making it easier for Antonio Brown, Emmanuel Sanders and Heath Miller to make plays.

That being said, Mike Wallace is not on the same tier of wide receivers as Johnson, Fitzgerald or Johnson. While Wallace is very talented, these other wide receivers are more complete players, and have just as big an impact as Wallace does.

So him expecting a contract similar to theirs from Pittsburgh is somewhat ridiculous, if not downright outrageous. While there are surely teams out there that would pay him more than Pittsburgh would, those teams are not nearly as successful, and the majority of their large investments don't wind up working out for them.

With the NFL draft happening in less than a week, there have been some rumors about the Steelers trading away Mike Wallace.

Could a trade happen? Technically, yes.

But in all likelihood, no. Historically, the Steelers rarely trade away players for not meeting their contract demands.

Some might recall the Santonio Holmes trade from two years ago, but the truth is that both situations are entirely different. Wallace has unreal contract demands, while the team wanted Santonio Holmes gone immediately. From a Steelers point of view, they should not, and very likely will not, initiate a trade for Wallace.

It could be that another team contacts the Steelers about Mike Wallace's availability. A team wanting to draft a receiver in the first round, or early in the second, might prefer to acquire a proven player who is still young and about to enter the prime of his career.

Teams that might fit the bill are the San Francisco 49ers, the Houston Texans, the New England Patriots and even division rival Baltimore Ravens.

Were this the case, the Steelers would do due diligence and evaluate their situation. If Mike Wallace was actually traded, the team would undoubtedly have to draft another receiver to replace him on the roster. The Steelers already brought in Georgia Tech's Stephen Hill for a visit, and could possibly look into another receiver, such as Baylor's Kendall Wright.

In the end, that will most likely happen is that Mike Wallace signs his restricted free agent tender and plays this season out under it, while also working with the Steelers towards an extension. But when it comes to them actually figuring something out, we won't know until it happens.