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Steelers offer to RFA WR Mike Wallace: one-year, $2.7 million

Discussion in 'PatsFans.com - Patriots Fan Forum' started by jmt57, Mar 13, 2012.

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  1. jmt57

    jmt57 Moderator Staff Member PatsFans.com Supporter

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    I know I probably shouldn't be starting another Mike Wallace thread, but the other one had grown so long it had pretty much run its course.

    Anyways, the current update is that the Steelers have offered Wallace a one-year contract worth $2.742 million, and they have the right to match any deal that another team offers him. The Steelers would still get a first round pick as compensation if Wallace signs elsewhere.


    Steelers offer Wallace, five others 1-year deals - Pittsburgh Tribune-Review

    Steelers offer contracts to 6 restricted free agents - Pittsburgh Tribune-Review
  2. Bill B.

    Bill B. Rookie

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    Say we sign Wallace and the Steelers don't match. Would we only have to give them the 31st pick that is ours and not the 27th that we gained in a trade? Of course the Steelers and Pats could probably make some kind of sign and trade agreement for the 27th. To get Wallace would be worth it.
  3. UK_Pat37

    UK_Pat37 Rookie

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    Desperation offer.

    They basically saying they'll give him more than his tender is worth for a season so that he stays there and then they will guarantee he will either be allowed to hit the market next season or they will work to sign him long term when the cap space is in better condition.

    That's a lot of trust to put into an employer. I say he tests the market still to see if anyone will offer the first rounder and the money.
  4. ctpatsfan77

    ctpatsfan77 PatsFans.com Supporter PatsFans.com Supporter

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    The rule is that you can use an earlier pick than your own pick in a given round if necessary, but (A) you can't use a later one, and (B) the prior team can't demand an earlier one. For example, if Cleveland tried to sign Wallace, they'd have to use their own first; they couldn't use Atlanta's.
    Last edited by a moderator: Mar 13, 2012
  5. madmike77

    madmike77 Rookie

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    It's not an offer. He's an RFA. $2.7 million is the price for a WR getting the 1st round tender.

    Wallace has no choice but to take it - unless he gets a better offer. There's really no news - the $2.7 was expected all along since it was the standard 1st round tender offer.

    EDIT: Sorry that wasn't as clear as it should have been. $2.7-million is the CBA-mandated offer for an RFA WR if a team wants to place the 1st round tender on him. All I was trying to say is it's not a number the Steelers came up with. If they wanted the 1st round pick back they had to offer him exactly $2.7 million.
    Last edited: Mar 13, 2012
  6. JoeSixPat

    JoeSixPat Rookie

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    My understanding is that teams would need to make an offer to Wallace that would be much more than $2.7 million for one season in order to get him... We're talking long term mega deal that just went up thanks to the Redskins signing Garçon.

    By tendering him at that level the Steelers have one week to contemplate and potentially match any offer (which would probably be front loaded to prevent the Steelers from being able to match) and whichever team lands him would also have to give up a 1st round pick.

    Because the Patriots woud be giving up what's nearly a 2nd round pick it makes it more feasible for them to make the offer than other teams, but it's the money and the one week waiting period that gives one pause.

    Even temporarily tying up that amount of cap space for one week while other free agents sign elsewhere will be difficult for the Patriots or any team to do, which could lead to the Patriots missing out on free agents AND missing out on Wallace if the Steelers find a way to match, so there's a lot of factors working against the Patriots on this one, even aside from a high salary (and I say that as someone who really likes Wallace and what he'd bring to the Patriots.)
    Last edited: Mar 13, 2012
  7. Banjo

    Banjo Rookie

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    Let's offer 8-9 million a year. Either the Steelers match it and have less cap, or we get him. Win-win
  8. Brady_to_Moss

    Brady_to_Moss Revis Island is here PatsFans.com Supporter

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    #95 Jersey

    honestly, i haven't heard anything from any pats writers on the pats interest in any WR other than the one from st.louis
  9. madmike77

    madmike77 Rookie

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    That's about what it would take. And it would need to be front-loaded. 10 million+ in the first year would pretty much guarantee the Steelers let him walk.
  10. EJ Blitz

    EJ Blitz Rookie

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    The PFW guys have been talking about Wallace as much as Lloyd, you could even say they want Wallace more so. At least that's the impression I get from listening to their podcast.
  11. Brady_to_Moss

    Brady_to_Moss Revis Island is here PatsFans.com Supporter

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    #95 Jersey

    Reiss on Wallace not being a smart business move:

  12. AndyJohnson

    AndyJohnson PatsFans.com Veteran PatsFans.com Supporter

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    That is what Garcon got. Garcon can't carry Wallaces gym bag.
  13. jsull87

    jsull87 Rookie

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    I've thought about this how about offering him a 5 million per year deal? Could the stealers match that?

    If not we are getting a sweet deal and they are losing a deep threat.

    But i guess on the flip side he won't have to sign the deal if he doesn't want to.
  14. dizi24

    dizi24 Rookie

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    Why would Wallace ever accept a 5 million per year deal???
  15. MP-Logick

    MP-Logick Rookie

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    [​IMG]

    What a crew...Laurence Maroney, some guy, the Law Firm...and Mike Wallace!
  16. madmike77

    madmike77 Rookie

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    Yes they would gladly match that. But Wallace likely wouldn't sign it. He'd play one year at 2.7 and then be a UFA next year and likely get 10+ per year.
  17. supafly

    supafly PatsFans.com Supporter PatsFans.com Supporter

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    #24 Jersey

    This offer of 8-9 million per could actually potentially HELP the Steelers in this instance.

    They are looking at having to pay him at least 9-10 million next yr in FA as an URFA or lose him to FA, and they'd probably match that offer of 8-9 this yr in a heartbeat...and consider it a favor at this point.

    Then again, it is kind of difficult to project exactly how much Wallace would demand, so you may be closer to the figure than I think. At least the 9 million part of it anyway.
  18. ausbacker

    ausbacker Brady > Manning. PatsFans.com Supporter

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    #51 Jersey

    The Rooney family has a decorated history of success in the NFL. Dan Snyder, well he doesn't.
  19. JoeSixPat

    JoeSixPat Rookie

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    Darn it, now why didn't Belichick think of that?!

    Just draft and develop the NEXT Wallace!

    It's so simple and yet so affordable! If only someone had suggested it sooner!

    (actually I'm sure he will draft receivers as he has in the past, but even some of the best receivers out there have needed time to develop and I'd think that Belchick will be interested in some immediate help, which means free agency or trade.)
  20. WhiZa

    WhiZa Rookie

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    Let's say a team would like Mike Wallace, but won't be able to pay Jackson/Garcon money for him. Couldn't they just sign him to a 5 year - 25 million dollar deal just to force the Steelers to match and pay more against the cap this year? It's all hypothetical, and besides being a jerk why don't teams do it more often?
  21. madmike77

    madmike77 Rookie

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    They could, but again, why would Wallace accept a deal like that? He would likely rather take a small risk, make his $2.7 million this year and then get a fat 5-year, $55 million deal next year.
    Last edited: Mar 14, 2012
  22. Spiral

    Spiral PatsFans.com Supporter PatsFans.com Supporter

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    The smart thing to do is wait until the Steelers use up more of their cap space, then make an offer. Per PFT, they have about $10M in cap space. Let their cap space go down a few million first. Other teams may not be as interested in Wallace, since just about every other teams' first round pick is worth more than the 31st. The best move here is to be patient. If some other team jumps in ahead of the Patriots, so be it. I'm sure they have other options.
    Last edited: Mar 14, 2012
  23. madmike77

    madmike77 Rookie

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    After their RFA tenders the Steelers only have about 2 million (that includes Wallace's tender). It's unlikely they'd be using any more up.
  24. ctpatsfan77

    ctpatsfan77 PatsFans.com Supporter PatsFans.com Supporter

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    Actually, that's not quite true:
  25. JoeSixPat

    JoeSixPat Rookie

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    Actually I've heard just the opposite, with a number of mailbag editors noting what a good fit Wallace would be for the Pats needs

    Michael Holley, who seems to know a thing or two about Belichick's thought process is very high on Wallace over Lloyd, noting that Lloyd is a stop gap measure, would likely cost a lot and leave the team looking for a WR again in two years given his age

    .... Whereas Wallace is just 25, could be here long term, and is more of a sure thing than whatever WR the Patriots could get with 31 anyways.

    It will be interesting to see if the market for Wallace picks up now that teams have made their early moves, or if it remains somewhat stagnant given the high salary demands and need to give up a 1st round pick.

    I think Wallace and his agents must also know that as an RFA requiring draft compensation, and the fact that they would be gaining long term security rather than the risk of injury at $2.7 million this year gives them an incentive to sign with a new team (or getup an extension from the Steelers)

    It still seems to me taking a weapon like Wallace away from a perennial AFC playoff team is a win win for the Patriots.
  26. KontradictioN

    KontradictioN Do you even lift? PatsFans.com Supporter

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    #24 Jersey

    He's almost certainly going to test the market. While I hope that the Pats will extend an offer to him, I have serious doubt it will happen. Even though this is probably the year to trade away a first rounder (since both are pretty low in the draft), I just don't see Belichick giving that much compensation to Wallace on top of helping a direct AFC rival possibly rebuild a roster that is as old as dirt.
  27. Sean Pa Patriot

    Sean Pa Patriot Rookie

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    #12 Jersey

    wes welker will be the highest paid reciever on the pats.. mike wallace will need mega bucks that the pats will not pay....
  28. supafly

    supafly PatsFans.com Supporter PatsFans.com Supporter

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    #24 Jersey

    I agree with those who say there's no way that Wallace would come here. There are too many question marks about him, what to set his value at, and whether or not he could produce here enough to actually earn his pay (which is probably one of the main reasons why BB likely never considered any of these big name WR's, there's just not enough balls to go around to justify their pay). Not only that, but the compensation would be way too much, on the borderline of stupid. There's probably a bunch of other pretty good WR's who could have been had for a lesser contract and a first rd pick or less, had BB wanted to give something like that up.

    For those crazy people who think that the last couple of days has not had any effect on the potential Welker negotiations (you know you're out there), here is a good article that was just posted a few minutes ago to the front page newsfeed:

    It Is What It Is » Long-term deal for Welker doesn’t make sense for Patriots
  29. MoLewisrocks

    MoLewisrocks PatsFans.com Supporter PatsFans.com Supporter

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    Unless you anticipate Welker falling off a cliff in less than two years there is really no reason for this team not to extend itself for Welker. They've done as much for others playing positions that were more easily replaceable in the draft.

    Continuing down this road will result in one of two things, paying him millions more against the cap in the two remaining flat cap seasons than they need to while paying him roughly the same $21M or so in guaranteed money he would see on a longer term deal and letting him walk in a Brady contract year while getting nothing more than a compensatory 5th in 2015 for him as a ten year veteran or letting him walk next season in exchange for a potential 3rd or 4th round comp pick in 2014 while having to find a way to replace 100+ receptions and a thousand plus yards of offense on a team with a seriously pissed off HOF QB entering the last two years of his contract.

    Brady's never squeezed this organization or flexed his considerable muscle in over a decade here. He's been the good soldier and toed the company line even when he believed they were making a serious mistake, and he's always done his best to cover their asses from experiencing the full consequences. If Welker becomes another challenge to overcome on the road to Canton, it could be his tipping point. He gave an interview a while back that someone on the radio was reading the other day where he talked about Wes and the ACL. How the doctors tell you the knee is stronger than it was pre injury but how tough it remains to rehab from both mentally and physically to get back to where you were pre injury. Said Welker is the only player he has ever seen come back from it and be better than he was before the injury (which was pretty damn outstanding to begin with).

    I think that the message they send with Welker will reverberate throughout the locker room, and that can be a good thing or a very bad thing as this team approaches the last handful of years they will have a leader like Brady at the helm so they'd be wise to take that into consideration in addition to production when calculating Welker's value.

    I don't think Welker is any more likely to be done here or not worth his deal in 3 years than any younger guy they've signed to a 5 or more year extension in the last couple of seasons is. In fact I think it's less likely they get $8-9M+ worth of production (or leadership by example) out of Wilfork or Mayo or Mankins in the next three years than it is they could expect that from Welker.
  30. robertweathers

    robertweathers Rookie

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    It's clear that WW was wise not to accept the 2yr/8m per/$16 guaranteed deal as the market has dictated such. We sill don't know what exactly WW asked for or how high the Pats will go. What we do know is the Pats, like every organization are openly cautious about paying/having a substantial cap hit IF WW can't produce 100+ catches at 34 years old. With the exception of Jerry Rice, almost every WR's production at 34 is not worth a $9m cap hit. WW is an against the odds, over-achieving athlete no question. But history is not on his side. All the restructuring, converting likely to be earned $$ into a bonus, salary, etc. does not change his contract unless WW accepts a pay cut to stay which the team has shown it will move players at the bat of an eye (see Vrable, Willie Mac, etc.)

    Brady never needed to squeeze the org because he never needed to. He knows that his situation here is great and going to another team is a risky proposition. He would never want to be known as the Qb who left a 3 time SB champion for money. The only time things seemed to get dicey was in 2006 when the up-front cash needed to be divided into separate installments. No question he was PO'ed with the Branch debacle (which turned out to be the right decision) but TB has matured and understands that it's a business.


    Meh. There is a long line of players that have been taken care of by this organization financially. Players know that things get dicey when they hit 31 or 32 years old and they have a big salary. WW knows this which is why he wants the up-front cash now.

    Clearly the Pats aren't quite sure as you are. I think we'd agree that if WW hadn't blown out his knee in 2009, he'd likely be entering year 3 of a 4 year deal that would have paid him $9m annually. He got hurt and its 3 seasons later....
    Last edited: Mar 15, 2012
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