Steelers GM Kevin Colbert confirmed the franchise will not slash unsigned restricted free agent Mike Wallace's salary from $2.72 million to $577,000 by Friday's deadline.
"That's never been an intention of ours," Colbert said. "We want him to get a long-term deal that he deserves and I am real confident that we will be able to do that because when both sides want the same thing, it is only a matter of time." Wallace is believed to be seeking a contract in the range of $12-16 million per year. It's no surprise that the Steelers are balking at a price tag reserved for the NFL's elite receivers.