"We'll cross that bridge when we come to it -- if we come to it," Tomlin said.
At this stage, there is no indication that any team will sign Wallace to an offer sheet. Here are the best reasons we can come up with:
It's too early
Teams have until April 20 to sign restricted free agents to an offer sheet. Unrestricted free agents get the most attention early in the process, and teams then start looking closer at restricted players. Perhaps a team is out there biding its time.
He's too expensive
There have been reports Wallace wants more than $100 million in a contract. He wants Larry Fitzgerald money. If that's true, the cost of the contract, plus a first-round draft pick, could make him too expensive.
He's not versatile
Wallace doesn't fit every offense. He doesn't go over the middle or help you on special teams like DeSean Jackson. There is some question about his ability to transfer to many offensive systems. Antonio Brown is the far more versatile receiver. Wallace, you could argue, is a one-trick pony. Of course, it's a pretty nifty trick.
The logical teams don't need him
The San Francisco 49ers and New England Patriots were rumored to be two possible fits for Wallace, but both teams signed multiple free-agent wide receivers and no longer appear to have a need. The Chicago Bears traded for Brandon Marshall. The Jacksonville Jaguars pick too high. The Cincinnati Bengals have two first-round picks, but perhaps they don't see A.J. Green and Wallace fitting together on the field. Or under the salary cap.
Where there's no smoke, there's probably a lack of fire. We think Wallace would be well worth a mid-to-late first-round pick and a handsome contract, but it looks unlikely to happen. That's exactly what Tomlin expects.
"Business will take care of itself, but Mike will report and be the guy that he's always been in my mind, and that's a guy that has a desire to be the best and a guy that's willing to work daily to be the best," Tomlin said Tuesday.
For at least one more year, it appears Wallace will be working in Pittsburgh.