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2012 Steelers Offseason: Mike Wallace To Stay In Pittsburgh, According To Reports

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.

For more on the Pittsburgh Steelers, head on over to Behind the Steel Curtain. For all the latest offseason news across the league, please visit the SB Nation NFL Hub Page.

Photographs by dizfunk used in background montage under Creative Commons. Thank you.