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