Pittsburgh Steelers wide receiver Mike Wallace has still not signed his restricted free agent tender. The offer extended by the team would pay Wallace $2.7 million on a one-year deal for his fourth season in the league. On June 15, the Steelers can withdraw the one-year tender and replace it with a new one worth $577,500, only a 10 percent raise over his 2011 salary.
Complicating the situation is the fact that the Steelers do not have to replace the one-year tender on Wallace. Either route could lead to a protracted standoff with an unhappy player, an unhappy player that represents a key part of the team's offensive firepower.
Wallace is looking for a long-term contract. He has said that he wants a deal on par with what the Cardinals gave Larry Fitzgerald, a deal that would make Wallace one of the highest paid receivers in the league.