Oh, how the not-so mighty have fallen. 

It appears receiver Mike Wallace will not be inking a long-term deal with the Pittsburgh Steelers.  Details about his contract demands indicate he’s looking for around $10 million a year from teams. And isn’t content signing his $2.7 million one-year restricted free agent deal with the Steelers for 2012. 
Steelers' general manager, Kevin Colbert, denied a trade possibility for Wallace.  If Mike Wallace were an unrestricted free agent today, which teams have enough cap space to afford him? 


Remaining Cap Space

Jacksonville Jaguars $25.11 million
Tennessee Titans $19.77 million
Cleveland Browns $17.77 million
Kansas City Chiefs $16.54 million
Cincinnati Bengals $16.3 million
Philadelphia Eagles $15.74 million
Tampa Bay Buccaneers $15.74 million
Indianapolis Colts $14.59 million
Denver Broncos $11.71 million
Green Bay Packers $11.25 million
New England Patriots $10.87 million
Minnesota Vikings $10.52 million

Wallace could certainly do some damage on a number of those teams.  Primarily, with the Patriots, Packers, or Broncos.  Those three teams all have top-flight quarterbacks who could use more weapons. 

Broncos' quarterback, Peyton Manning makes stars out of unknown players. Tight end Jacob Tamme emerged as a solid pass-catcher with Manning throwing him the ball back in Indianapolis.  Manning elevates the ability of players around him over-and-over again.  Wallace could be a great addition to receivers Demaryius Thomas and Eric Decker in Denver, and the move would make a lot of sense.  Speculation surrounds Manning's return after he missed all of the 2011 season due to a neck injury.

Tom Brady of the New England Patriots benefited from spectacular tight end play last season.  Aaron Hernandez and Rob Gronkowski lit up defenses in the red zone last season.  The addition of Wallace could act as a hindrance, but Brady could always use more weapons.  After all, they did lose the Super Bowl again to the New York Giants last season. So every little bit helps. 

The Packers and Aaron Rodgers went 15-1 in the regular season in 2011.  Receivers Greg Jennings, Donald Driver, James Jones, and Randall Cobb were all performers on any given day with Rodgers in 2011, as was tight end Jermichael Finley.  The addition of Wallace could be exactly what this team needed to get over the hump against the Giants last season.  The Packers were knocked out by the eventual Super Bowl champions in 2011.  Many predicted back-to-back Super Bowl appearances for the Packers, but that's not how the cards fell.  Rodgers could utilize Wallace immediately and possibly take the Packers back to the big game in 2012.

Sadly, Colbert doesn't want to move Wallace.  And Wallace won't be an unrestricted free agent until 2013. 

What's worse is Wallace is delusional.  He only deserves the $2.7 million in 2012, and he is quickly becoming a cautionary tale.