WR Mike Wallace on holdout in deal protest as Pittsburgh Steelers start OTAs-NFL News
No progress is reported on the pertaining deal matter of Pittsburgh Steelers’ wide receiver, Mike Wallace, as the player is set to stay out of the Organised Team Activities (OTAs), due to start from Tuesday, May 22.
So far, the player has not signed the first-round restricted free agent tender of worth $2.742 million for this season, and this leaves him without participating in the OTAs and mandatory minicamp scheduled from June 12 to 14.
Since the player has opted for the holdout, he is allowed to skip the training and other workout activities of the team. This is the reason that Steelers are not surprised over his choice.
Most importantly, there is not a hint from any of the concerned stakeholders, especially from the player’s agent, if he is going to sign the tender anytime before the deadline of June 14.
Wallace is set to lose about $1.969 million on value of the tender, as from June 15, the Steelers will have the option of making the reduction from the total payout. Yet they will hold all the exclusive rights of the player.
The player’s demand of a long-term expensive deal, similar to the $100 million deal the Detroit Lions have signed with WR, Calvin Johnson, is the main cause of his protest.
Johnson’s deal includes $50 million as guaranteed money and Wallace is demanding Steelers to come up with a similar solution his deal issue.
Although Steelers’ management has said to be willing to work out a new deal for the player, there is no information if they are ready to offer him the anticipated hefty contract.
While having failed to attract another team off the free agency, some analysts believe Wallace has lost the opportunity of a bargain. He is set to lose more than gain anything in case of not signing the tender by June 14.
Apparently, none of the team’s officials have hinted at reducing Wallace’s tender payout but they have all the rights to do so, and Wallace cannot challenge them.
Some commentators believe that in spite of the holdout the player is most likely to sign the tender on last day of the deadline to avoid an inevitable financial loss.
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