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Steelers Still Hoping To Sign Mike Wallace To A Long-Term Contract

Steelers GM Kevin Colbert confirmed that they will not drop WR Mike Wallace‘s restricted free agent tender from $2.72 million to $577,000.

That’s never been an intention of ours,” Colbert said, via the Pittsburgh Tribune-Review. “We want him to get a long-term deal that he deserves and I am real confident that we will be able to do that because when both sides want the same thing, it is only a matter of time.”

There;s no question that this is the appropriate strategy to take, if they truly want to sign him to a long-term contract. Talks could get contentious at this point if the Steelers really used all of their leverage, but Wallace would be wise to sign his tender in the near future, considering that he’ll need another year of service time to qualify as an unrestricted free agent next season.

Whether or not he ends up signing a long-term contract with the Steelers remains to be seen, but he’ll almost certainly be playing for them at some point this season.

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According to Gerry Dulac of the Pittsburgh Post-Gazette, “there has been little, if any, movement” regarding a long-term extension for WR Mike Wallace, who has yet to sign his restricted free agent tender.

Gerry Dulac adds that the Steelers will not rescind the tender that they extended to Wallace which will pay him $2.7 million for the 2012 season.

Wallace chose not to report to the team’s mandatory minicamp, which really isn’t all that surprising considering that the he’s reportedly seeking a very sizable contract.

Steelers owner Art Rooney said that “[Wallace] should be here.”

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Mark Kaboly of the Pittsburgh Tribune-Review reports that WR Mike Wallace will not be attending the Steelers mandatory minicamp.

Wallace has had a long, drawn out contract dispute with the Steelers after first being tagged with a first-round restricted free agent tender.  Wallace is seeking a long-term agreement from the team and has been reportedly looking for a deal similar to WR Larry Fitzgerald, which is about $15 million per year. While he’s certainly worth more than the restricted free agent tender that the Steelers offered him, he’ll have little leverage as the season draws closer, considering that he’ll need another year of service time before he can become an unrestricted free agent.