The Steelers are reportedly leaning toward placing a first-round restricted tender on Wallace, which means that another team -- willing to give up their first-round pick as compensation and with the right amount of cap space to afford an extension for the receiver -- could acquire Wallace.
Ravens general manager Ozzie Newsome is very protective of high draft picks and his team doesn’t have too much cap space, so I’ve thought all along that this is a long shot.
And from what it sounds like, the Steelers, who have some cap problems of their own, are prepared to do what it takes to keep Wallace.
“Mike is a restricted free agent,” Steelers general manager Kevin Colbert said at today’s NFL Combine. “I’m pretty sure that he’s going to be protected with a first-round pick at minimum. There’s always the franchise possibility. We’re going to do everything we can to make sure that Mike Wallace remains a Pittsburgh Steeler and I think that’s Mike’s belief as well. Usually when you have two parties that share the same goal, it’s easier to achieve that goal.”