After signing Antonio Brown to an extension yesterday, the Steelers reportedly will not be signing Mike Wallace to an extension. He will either need to report and play out the season under a 2.7 million dollar tender or the Steelers will try to trade him. If he does report, he’s unlikely to be franchised and/or signed long term next off-season because of the cap situation that the Steelers are in. They’re very backed up against the cap right now and will remain backed up for the foreseeable future, especially after extending Brown. They had to restructure a bunch of contracts this offseason just to get under cap and that will have negative effects on their cap situation in the future.
If the Steelers do make Wallace available through trade, several teams figure to be interested and, while the Steelers were unable to get a 1st for him when he was a restricted free agent, they should be able to get at least a 2nd rounder for him. One team that makes the most sense for him is the Indianapolis Colts. The Colts are technically a rebuilding team, but at age 26 (on August 1st), Wallace should still have about 4 more peak years in him so he’s a fit for any team.
The primary reason why Wallace is a fit for the Colts is Bruce Arians. Arians is the Colts’ new offensive coordinator and had previously been the Steelers’ offensive coordinator for Wallace’s entire career there. One of the reasons that receivers don’t have a have good track record when switching teams is because they have to learn a new system and adjust to a new quarterback. Those things are especially a problem when switching teams this close to the start of the season. However, rejoining Arians would eliminate at least one of those problems as Wallace probably knows that playbook and that system better than most of the receivers there right now.
Arians’ system is a downfield one that requires speed receivers, but the Colts currently lack those. Austin Collie is an unathletic possession receiver, while Reggie Wayne is heading into his age 34 season. He had good speed in his prime, but was never a true speedster like Wallace, and now he’s undoubtedly lost at least a step. The Colts used a 3rd round pick on a true speedster in TY Hilton, hoping to have the same success he had with Wallace (a 3rd round pick) and Antonio Brown (a 6th round pick). However, he’s still no sure thing at all. The Colts also signed Donnie Avery, a former speedster, but he’s only caught 3 passes in the last 2 years combined and he might be damaged goods after all of his injuries.
Wallace would instantly become Luck’s best receiver and the true speedster Arians’ offense requires. He would also upgrade a position of major weakness for the Colts. They have two talented tight ends, but their wide receiver talent is still below average. Wayne is almost 34, Collie isn’t very good, and Hilton and Avery are major unknowns.
The Colts used the #1 overall pick on Andrew Luck so they would be wise to do everything to make sure he can succeed. I’ve always believed that when rebuilding a team from scratch, which the Colts are essentially doing (they haven’t drafted a Pro Bowler since 2006), you start with the quarterback, then you get him the offensive pieces needed to succeed when he’s young, even if it means ignoring the defense for a couple years.
Most teams agree with me because of the last 19 teams to take a quarterback in the first round, 15 took an offensive player with their next pick. The Colts took that to the extreme this year by using their next 3 picks on offensive players (TE, TE, WR) and ignoring the defense until the 5th round, even though they have plenty of needs defensively. Defensive minded Head Coach Chuck Pagano feels he can coach up late rounders and the players he inherited from the last regime. They should continue that plan and acquire Wallace. He’s worth a 2nd rounder, and the 55-60 million over 5 years he desires, to them.
He probably isn’t worth that much anywhere else because of how much receivers tend to struggle after switching teams so while the Panthers, Rams, Vikings, Bills, and Seahawks make some sense, the Colts make the most sense. With an estimated 14.59 million of cap space at the moment, they definitely have the cap space for him as well, so that won’t be an issue.
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Colts make sense for Mike Wallace?