The Steelers plan to place a first-round tender -- and not the franchise tag -- on restricted free agent Mike Wallace, a source close to the wide receiver told ESPN NFL Insider Adam Schefter. By doing so, the Steelers leave themselves vulnerable to a team prying one of the game's best deep threats away. A team could front-load a contract offer, something the salary-cap strapped Steelers could have trouble matching, to Wallace and acquire him by giving a first-round pick as compensation.
Now as we know, Colbert said at the combine and before that they could still franchise him if they want. Perhaps they still will but I think they have enough indications that teams aren't going to go after him with big money now that they'll be ok. Plus they'll still get the right of first refusal.