Pittsburgh Steelers wide receiver Mike Wallace has to be feeling pretty good Monday evening thanks to some of the things that transpired around the NFL since Friday.
For starters, the Steelers were unable to place the franchise tag on Wallace, as expected, and now he is assured to hit the free agent market next Tuesday evening. In addition to that, the Kansas City Chiefs have reportedly signed wide receiver Dwayne Bowe to a five-year deal just prior to the Monday franchise tag deadline.
With Bowe now locked up, that means there will be one less free agent wide receiver for Wallace to compete with. That leaves Greg Jennings and Wes Welker as the only other high profile wide receivers that are scheduled to be unrestricted free agents once the new league year begins. That list could shrink to just Jennings by next Tuesday as the New England Patriots are reportedly working hard to get Welker signed to a new deal as well.
There are quite a few teams with both cap space and cash to spend, so Wallace will more than likely get at least $11 million a season, if not more, when the free agency signing period begins.
At this point Wallace is perceived to be the top free agent to hit the market now that Joe Flacco, Ryan Clady, Henry Melton and Jairus Byrd are no longer included on the list. Flacco agreed to a new six-year contract worth over $120 million this past weekend, while Clady, Melton and Byrd have all been franchised by their respective teams.