Steelers Will Try to Franchise Mike Wallace

The Steelers' General Manager Kevin Colbert has said the Pittsburgh team will do everything in its power to keep wide receiver Mike Wallace this offseason.

"We're going to do everything we can to make sure Mike Wallace remains a Pittsburgh Steeler," Colbert said. "And I think that's Mike's hope as well. Usually when you have two parties that share the same goal, it's easier to achieve that goal."

The Steelers GM says they are not ruling out the possibility of placing a franchise tag on Wallace right now, as they wait for the NFL to give them the final salary cap number. Colbert says they intend to protect him by giving him a first round tender.

Mike Wallace heading into the offseason, was not expected by the Steelers to be available on the free agent receiver market.

"Once we determine what his tender will be, we'll know what our compensation will be," Colbert said. "I'm pretty sure he's going to be protected with a first-round pick at minimum. There's always a franchise (tag) possibility. But not knowing what our cap total situation is until we get a final number, I really can't say."

It would likely cost the Steelers two first-round picks to sign Wallace, so franchising him would almost assure he would stay with the Steelers. Colbert said if the team doesn't do everything in their power to keep the wide receiver, it is likely another team would jump in and grab him.

"I wouldn't be surprised at all if that would happen," he said. "Again, ultimately, it's our call. We'll just wait and see where things go."

It is likely the Steelers will continue to restructure contracts like they already have with five other players including Roethlisberger, LaMarr Woodley, Lawrence Timmons, Ike Taylor and Willie Colon.

A number of other players like Casey Hampton, James Harrison and James Farrior are also candidates for contract restructuring.