Mike Wallace Unwilling To Sign Franchise Tender

The Pittsburgh Steelers should prepare for a lengthy holdout, if another team does not swoop in before the April 20th deadline and strike a deal with wide receiver Mike Wallace. As it stands now, Wallace is unwilling to sign his one-year, $2.742 million tender. ESPN’s Adam Schefter reported the news on NFL Live last night.

Without signing the tender, Wallace would be unable to participate in Organized Team Activities this offseason.

Wallace also plans to go as far as sitting out for all of the team’s offseason workouts if he does not receive a long-term contract. So far in the process, the Steelers and Wallace have been unable to reach any common grounds in their contract talks. Wallace wants to be one of the top paid receivers in the league and the Steelers seem hesitant to meet those demands.

With the way things stand now, Wallace appears headed for a lengthy holdout. That is, of course, unless a team signs him to an offer sheet at some point during the next week and gives him his long-term deal. The Steelers would receive a first-round pick as compensation.

While it is just speculation, one team to keep an eye out for in the Wallace sweepstakes is the Steelers division rival Cincinnati Bengals, who have the extra draft pick and cap space to make this move possible.

To stay up to date on the latest from NFL Spin Zone, become a fan on Facebook and follow us on Twitter.