Mike Wallace, having a subpar season in Pittsburgh while working under the franchise tag, looks set to depart in the offseason barring a major change in the second half of the season. Wallace (29 receptions, 397 yards, 4 TD) has not been a vertical threat this season, has struggled for consistency since coming back from a prolonged holdout, and is no longer the team's top pass-catching option. Wallace seems to be struggling with the emergence of recently-extended Antonio Brown as the No. 1 receiver. Wallace's confidence has waned and the Steelers would not be inclined to franchise him a second time, or pay him the $11 million or so a year he was seeking in the offseason, according to a source with knowledge of the situation. All signs are pointing to a departure, unless Wallace was seeking to significantly alter his demands, and that's unlikely at this point given his stance last offseason. Source: CBS Sports
He hasn't been a vertical threat because Haley hasn't really run "vertical threat" plays as often as Arians had...lol.
I think it was in the neighborhood of $9M? If they release Hampton, I think that covers it alone. I remember it was in the neighborhood of 2-Years $12M to put both tags on Wallace in 2012 and 2013. Which isn't a terrible deal...just back loaded...lol.