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Steelers Will Not Franchise WR Mike Wallace

ESPN’s Adam Schefter reports that the Pittsburgh Steelers will not be using their franchise tag on WR Mike Wallace and will instead place a first-round tender on him.

Yesterday, the Steelers parted ways with WR Hines Ward and several reports mentioned that they didn’t even give him the opportunity to restructure his contract. This indicates that his roster spot was a bigger issue than his 2012 salary, even though they have serious financial issues to deal with. Basically, I’m saying that the Steelers have no intentions of allowing Wallace to leave.

Pittsburgh could lose him to another team that’s willing to offer him a huge contract and part with a first-round in the process. Passing on the franchise tag is a risky move but there’s no guarantee that someone like the Patriots will try to lure him away considering the cost.