The Pittsburgh Steelers have one of the biggest free agents on the market in wide receiver Mike Wallace, but they will not extend him the Franchise tag. According to Jamison Hensley of ESPN, Wallace received a first-round tender by the team instead.
There had been talk about the Steelers putting the tag on wide receiver Mike Wallace to protect the restricted free agent, but Pittsburgh has reportedly decided to give him a first-round tender.
That means that Wallace could sign with a different club, and the Steelers would receive a draft pick as compensation.
The other interesting thing that Hensley points out is that the Steelers probably won't end up using the tag at all because, beyond Wallace, none of their free agents are worth using the tag on.
There is no one else to consider for the franchise tag because Pittsburgh's top unrestricted free agents (the ones who weren't cut) are cornerback William Gay, quarterback Dennis Dixon and punter Daniel Sepulveda.