The Steelers are expected to tender restricted free agent Mike Wallace at the first-round level if the sides can’t agree to a long-term contract before free agency begins on March 13.

If another team tried signing Wallace to an offer sheet after he was tendered at the first-round level, the Steelers would receive a first-round pick in return. (As good as Wallace is, few teams would be willing.) Wallace is almost certain to be back with Pittsburgh in 2012. In a perfect world, the Steelers would lock up the 25-year-old for the next four to five seasons.