As it turns out, the Steelers did reach an agreement on a contract extension with a wide receiver, but it's not Mike Wallace, at least not yet. It is being reported by several outlets--including the team's Twitter account--that the Steelers and wide receiver Antonio Brown have reached an agreement on a contract extension. The Steelers haven't announced the terms of the deal, but it is reportedly for five years and $42.5 million and will keep the third year receiver with the team through the 2017 season. It is a bit of a surprising move considering the Steelers' on-going contract dispute with Wallace, a restricted free agent who received very little interest from other teams in the offseason and is seeking an extension of his own. Wallace has refused to sign the team's $2.7 million one year tender and has yet to report to Training Camp.
Wallace's decision to hold-out of camp has caused the Steelers to suspend negotiations and remove their best offer from the table. It had been said in recent days that the Steelers didn't place a high value on the wide receiver position. The announcement of the Brown extension shoots down that theory.
With Brown's extension, one has to wonder if the Steelers still consider Mike Wallace a valuable enough commodity to keep the "Young Money" trio together beyond the 2012 season.