Vikings Would Like To Keep Mike Wallace & Phil Loadholt If They Take Pay Cuts

Chris Tomasson of the Pioneer Press reports that the Vikings would like to have both WR Mike Wallace and RT Phil Loadholt back next year, as long as “the price is right.”

A source tells Tomasson that the Vikings are interested in bringing both players back if they’re willing to restructure their contracts.

However, they would need to agree to “significant” pay cuts to ensure they aren’t released at some point during the offseason.

Jason Cole of B/R previously reported that Vikings GM Rick Spielman was scheduled to meet with Wallace at the Combine regarding a pay cut, but they preferred to have Wallace back next year if they could lower his salary.

Wallace, 29, is in the fourth five-year, $60 million contract that included $30 million guaranteed. He stands to make base salaries of $11.45 million over the next two years.

According to OverTheCap.com, releasing Wallace would free up $11.5 million in available cap space while creating no dead money.

In 2105, Wallace appeared in all 16 games for the Vikings and recorded 39 receptions for 473 yards receiving and two touchdowns.

Loadholt, 30, is in the final year of his four-year, $25 million contract and is scheduled to make a base salary of $5.4 million for the 2016 season.

According to OverTheCap.com, releasing will free up $6 million in available cap space while creating $1.75 million in dead money.

He was unfortunately placed on season-ending injured reserve back in August of last year after he suffered a torn Achilles.