Starting in 2014, the NFL's restricted free agency will be limited to players who were originally undrafted. Mike Wallace's free agency is restricted only because the Steelers handed out three-year rookie contracts compared to the customary four-year deal used by most clubs. The new CBA mandates that all players must sign contracts of at least four years in length, eliminating that final year of restricted free agency. Wallace is not expected to draw an offer by Friday afternoon's deadline.

The period for NFL teams to sign restricted free agents to offer sheet proposals ends on Friday. ESPN's Adam Schefter reported on SportsCenter Thursday morning that Mike Wallace will likely be staying put in Pittsburgh. "It doesn't look like there's a team out there that's willing to sign Mike Wallace to an offer sheet," Schefter said. Wallace's price tag has been the biggest hangup. He is believed to be seeking Larry Fitzgerald/Calvin Johnson money.

According to Ed Bouchette of the Pittsburgh Post-Gazette, a Mike Wallace trade "ain't happening." Agent Bus Cook is pulling out all of the stops to get his client a new contract, leaking news that Wallace won't report for OTAs and that several teams are interested in a trade. The Steelers have little motivation to trade their best skill-position player for less than the first-round RFA price. They will collect a third-rounder as compensation if Wallace leaves via free agency in 2013.

There are reportedly a "handful" of teams interested in trading for restricted free agent Mike Wallace. Coming a day after a report that Wallace has no intention of signing his one-year tender, this smacks of agent Bus Cook trying to force the Steelers' hand. If Pittsburgh isn't willing to hand over a long-term deal at more than $10 million per season, Cook wants to send Wallace to another team at less than a first-round price. Any team attempting to acquire Wallace would have to satisfy his contract wishes as well as the Steelers' compensation demands. The chances of a trade decrease dramatically after the upcoming draft.

ESPN's Adam Schefter reported on NFL Live Wednesday that restricted free agent Mike Wallace has no plans to sign his one-year, $2.742 million tender. If his tender isn't signed, Wallace can't participate in Organized Team Activities. According to Schefter, Wallace plans to sit out all offseason workouts until the sides reach a long-term contract agreement. Schefter reports that Wallace and the Steelers have "struggled" to find a common ground, which means the deep threat receiver could be headed for an extended spring absence.

Steelers coach Mike Tomlin attributed Mike Wallace's relatively slow finish to the 2011 season to increased defensive attention. Wallace incredibly strong together 12 straight games of 75-plus receiving yards from early December of 2010 through late October 2011. "In many instances, teams took him out of the game," Tomlin said. "When you reel off the kind of seven- to eight-game run that he had there to start the season, that's some scary video for defensive coaches in preparations for games."

Steelers president Art Rooney II reiterated his intention to lock up restricted free agent Mike Wallace with a long-term contract. "The sooner the better as far as we're concerned but there's two parties to it," Rooney said. "We'll have to see what we agree on so I don't want to put any particular time frame on it or restrictions on it because these things take time and I wouldn't want to box myself in on it." Although Wallace is reportedly seeking Larry Fitzgerald money, he'll have to settle for $10-11 million per season.

Citing a league source, the Sacramento Bee reports that restricted free agent Mike Wallace is searching for a long-term contract in excess of the eight-year, $120 million deal signed by Larry Fitzgerald last August. The Bee's Matt Barrows has been tracking the situation because the team he covers -- the 49ers -- made an inquiry about signing Wallace to an offer sheet. It's not happening if he insists on becoming one of the top three highest paid receivers in football. (Calvin Johnson and Fitzgerald are Nos. 1 and 2.) Wallace may still leave Pittsburgh if his asking price comes down, but the Steelers couldn't sign him, either, on that lofty of a demand.

SI.com's Peter King believes the 49ers could make a play for restricted free agent Mike Wallace if they fail to sign free agents Peyton Manning and Alex Smith. Whiffing on Manning and Smith would force the 49ers to go with Colin Kaepernick or a low-level free agent at quarterback, but would also free up the roughly $8 million per season it would take to sign Wallace. The 49ers would also have to send the Steelers their 30th pick if they signed Wallace to an offer Pittsburgh chose not to match. King calls the scenario a "longshot," but it certainly makes sense on paper. Neither the Ravens nor Patriots are expected to make plays for Wallace.

ESPN Boston's Mike Reiss believes the Patriots' signing of Brandon Lloyd eliminates any chance they would make a play for restricted free agent Mike Wallace. It's looking increasingly less likely any team will attempt to poach the Steelers' top wideout. Another potential suitor in the 49ers likely took themselves out of the running on Saturday when they agreed to terms with Mario Manningham. After it initially appeared the Steelers were in great danger of losing Wallace, they may now be in line to keep him without even having to match an offer. That means he would play for the low price of $2.7 million in 2012.