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past 4 p.m. on Friday. You know what that means? It means more than the start of happy hour. It's time for the Steelers to breathe a sigh of relief.

Wallace No team signed restricted free-agent Mike Wallace by the deadline, according to ESPN's Andrew Brandt. So, Wallace remains with the Steelers this season.

Congratulations, Pittsburgh. The Steelers' front office took a risk by not putting the franchise tag on Wallace and won $7 million with that gamble. If you want to be specific, the Steelers netted $6.8 million by putting a first-round tender on Wallace ($2.7 million) instead of the tag ($9.5 million).

Wallace hasn't reported to offseason workouts because he has yet to sign the tender. He has until June 15 to sign it before the Steelers can get cut the tender to $577,500 -- a loss of $2.1 million. But that's not going to happen. The Steelers aren't going to save any more millions of dollars with Wallace this year.

Yeah, the Steelers know exactly what they are doing and it worked out well for them having Wallace for another year.
I think he will play well and be a factor in Haley's offense which will bode well for him in future contract talks with other teams, as I think the Steelers will let him walk and sign A.B to a multi-year contact next season.
Things are working out good so far for the Steelers offense with Wallace remaining a Steeler and signing Cotchery.
All we need is that LG, and we'll be swaggin on offense.

Don't pop the corks quite yet, he has until 12:00 to sign his offer. It was in the Post Gazette today. Wallace is going nowhere, and really, had no realistic shot of getting a ridiculous contract tosseds his way. He has no leverage, and besides, there were 42 other free agents that could have been had for a whole lot less that were not offered silly money either.

This Wallace issue rubs me the wrong way. Bad vibe. The kid needs to listen to Hines Ward.

Agreed. It will be a long time (if ever) that another WR of Hines' caliber/character plays in the NFL.
One short term advantage though: Wallace's game didn't work this year. If he continues to insist on going for a big payday, then he had better put up some big numbers for us this year. Otherwise, his value may drop.

RE: Bad Vibes

Don't any of you remember the 70's Mel Blount Situation? How about White, Greenwood and Hanratty all joining the WFL??? Sure didn't effect them much. It may have submarined the 1977 season... but there were other issues with that squad besides contracts.....

I still favor a sign and trade. Or just an outright trade. I'm not sure he has the right attitude or commitment to the team. I'd rather have the draft choice or choices in 2011 or 2012 than risk losing him and getting nothing in return.