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The Steelers Will Not Be Franchising WR Mike Wallace Today

Mark Kaboly of the Pittsburgh Tribune-Review reports that the Steelers will not apply their franchise tag to WR Mike Wallace and will instead stick with the first-round tender.

Wallace will make $2.7 million assuming that they’re not forced to match an offer from prospective team. Last week, NFL.com’s Michael Lombardi reported that the Steelers could lose Wallace to a team that’s willing to part with a first-round and pay him a base salary of $12 million in 2012.

It’s hard to say if anyone’s actually considering such a move at this point but at least Pittsburgh has given themselves an opportunity to fend of f potential suitors.