The 4 p.m. deadline for signing restricted free agents has passed, and according to Andrew Brandt of ESPN.com, no team has put in an offer for Pittsburgh Steelers wide receiver Mike Wallace. This will ensure that Wallace plays for the Steelers in 2012.
The move to allow Wallace to be up for free agency was a gamble the Steelers have now won. The Steelers will sign him by putting a first-round tender on him at $2.7 million. Had the Steelers tried to protect him by putting the franchise tag on him, they would have had to cough up $9.5 million. That's a savings of nearly $7 million.
Wallace has yet to accept the deal, but has until June 15 to do so.