Ed Bouchette tweeted up today that Kevin Colbert said they had no cap room to franchise Mike Wallace, which is what we all knew anyways. Colbert mentioned that they feel good about where they are with the salary cap right now and that for the time being no more player cuts are forthcoming.
After the recent cuts of Farrior, Smith, Kemo, and Ward they shaved enough to get around $10-$11 million below the cap as we know but I would suspect more restructures are on the way if they want to tender offer their RFA's this week and expect to have any room left. Hampton and Polamalu still have to be some of the top choices for a restructure at some point.
Should they not do so, then not all of the RFA's are getting offers that much is clear.
Ed Bouchette @EdBouchette Colbert says #steelers didn't have cap room to use franchise tag
#steelers GM Kevin Colbert: "We feel good where we are from cap standpoint."