Player: CB Levi Wallace
Stock Value: Sold
Reasoning: The Steelers officially lost another free agent with CB Levi Wallace signing with the Denver Broncos. They had ample time to re-sign him, but now he is no longer an option to revisit after the draft. Patrick Peterson and Chandon Sullivan remain unsigned from last season’s roster, however, if they don’t achieve their draft goals.
The quarterback room is not the only one that figures to look much different from last season. The Steelers may lose up to four cornerbacks from their defensive back room of 2023, two already gone. While they retain Joey Porter Jr. in the starting lineup, they did not re-sign three free agents. They also released Patrick Peterson, a full-time starter a year ago.
Two of the three cornerbacks who reached free agency have signed elsewhere, the latest coming yesterday. Levi Wallace officially signed with the Denver Broncos, bringing his two-year tenure with the Steelers to a close.
Many Steelers fans likely celebrate his signing elsewhere, yet I argued that he would provide solid depth at a position of need. Neither Darius Rush nor Cory Trice Jr. have yet done anything to indicate they are better. Wallace struggled as a starter in the early portions of last season, but he played well in 2022. He also showed better work coming off the bench late last season as injuries mounted.
Unless Wallace declined an offer, which is unlikely, the Steelers had ample opportunity to bring him back. Perhaps they hoped to make it through the draft before taking that course of action, a plan the Broncos spoiled.
But make no mistake, Wallace is hardly an irreplaceable player. The Steelers will look to do just that this week during the 2024 NFL Draft. With only Porter and Donte Jackson as proven commodities at the position, however, they also need depth.
I don’t see the Steelers drafting two cornerbacks, so they may still revisit Patrick Peterson after the draft. I know that’s another name that sends Steelers fans into convulsions like Wallace. But let me just remind you: Steelers fans felt the same way about James Pierre that some feel about Trice. I’m sure I could employ a number of cliches here, but I’ll just say Trice could be Pierre in three years or worse.
As the season progresses, Steelers players’ stocks rise and fall. The nature of the evaluation differs with the time of year, with in-season considerations being more often short-term. Considerations in the offseason often have broader implications, particularly when players lose their jobs, or the team signs someone. This time of year is full of transactions, whether minor or major.
A bad game, a new contract, an injury, a promotion—any number of things affect a player’s value. Think of it as a stock on the market, based on speculation. You’ll feel better about a player after a good game, or worse after a bad one. Some stock updates are minor, while others are likely to be quite drastic, so bear in mind the degree. I’ll do my best to explain the nature of that in the reasoning section of each column.
