Steelers plan to tender Wallace

by Guest Fri Mar 02, 2012 10:38 am

from sporting News:
The Pittsburgh Steelers plan to tender restricted free-agent wide receiver Mike Wallace rather than use the more costly franchise tag on him, according to an ESPN report.

With the tender, the Steelers would have a measure of protection in their effort to keep Wallace, one of the league’s top deep threats. If another team signed Wallace to an offer sheet, the Steelers would receive a first-round pick if they decide not to match it. If the Steelers did match it, they could have a salary-cap problem that would force them to clear more space.

According to the ESPN report, the highest qualifying tender on Wallace would count $2.75 million toward the cap, which almost matches the amount the Steelers are currently under the cap. To get below the cap, the team cleared space by restructuring several contracts and releasing Hines Ward.

The Pittsburgh Steelers plan to tender restricted free-agent wide receiver Mike Wallace rather than use the more costly franchise tag on him, according to an ESPN report. (AP Photo)

Still, the Steelers currently don’t have the cap space to put the franchise tag (at a cost of $9.4 million) on Wallace.

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by Guest Fri Mar 02, 2012 10:41 am

THIS IS OLD NEWS ... WE ALREADY KNEW THIS.

by Guest Sat Mar 03, 2012 6:42 am

Wallace would be a perfect fit on the Patriots, and this is the only way they could wrestle him away from the Steelers. They have two first round picks, 27 and 31, and since the Pats pick is the 31st it would be well worth it to get a speedy guy like Wallace on the outside.

by wyckedheart8 Sat Mar 03, 2012 1:15 pm

captnbrojangles wrote:from sporting News:
The Pittsburgh Steelers plan to tender restricted free-agent wide receiver Mike Wallace rather than use the more costly franchise tag on him, according to an ESPN report.

With the tender, the Steelers would have a measure of protection in their effort to keep Wallace, one of the league’s top deep threats. If another team signed Wallace to an offer sheet, the Steelers would receive a first-round pick if they decide not to match it. If the Steelers did match it, they could have a salary-cap problem that would force them to clear more space.

According to the ESPN report, the highest qualifying tender on Wallace would count $2.75 million toward the cap, which almost matches the amount the Steelers are currently under the cap. To get below the cap, the team cleared space by restructuring several contracts and releasing Hines Ward.

The Pittsburgh Steelers plan to tender restricted free-agent wide receiver Mike Wallace rather than use the more costly franchise tag on him, according to an ESPN report. (AP Photo)

Still, the Steelers currently don’t have the cap space to put the franchise tag (at a cost of $9.4 million) on Wallace.

Read more: [You must be registered and logged in to see this link.][/size" target="_blank" rel="nofollow">[/quote] Someone needs to make up their mind because I read yesterday where they werent going to franchise him, at least thats what I think you are talking about, if I can find the article I will post in.