Free agency doesn't begin until March 9, but it's never too early to talk about who's coming, going and staying. Our question of the week focuses on the future of Baltimore Ravens wide receiver Mike Wallace.
@jamisonhensley What will be the fate of Mike Wallace in 2017?
— Dan Abeshouse (@DanAbeshouse82) January 31, 2017
@JamisonHensley: Dan, that is the $5.75 million question. The reason I couch it that way is the Ravens would free up that much in salary-cap room by releasing Wallace. The decision ultimately comes down to whether the Ravens believe they can get a speedy downfield threat at a lower cost than Wallace.
On the surface, it sounds surprising that the Ravens would even think about letting go of Wallace. He's coming off his best season since 2011. The Ravens already lost Steve Smith Sr. (retirement) and could be without Kamar Aiken (unrestricted free agent) next season. Wallace is the only proven playmaker at receiver under contract.
But, when it comes to balancing the salary cap, value has to play a big part in shaping the roster. If the Ravens believe they can replace Wallace with a receiver who has a similar skill set and comes at a reduced price, Baltimore has to consider making the move. One potential option is a reunion with Torrey Smith, who has been a projected salary-cap cut by the 49ers.
Wallace's $8 million salary-cap hit is more than double than his one last season ($3.5), but it's reasonable when you consider it ranks 20th among wide receivers in 2017. His 1,017 receiving yards were 21st in the NFL, and his 14.1 yards per catch average was 24th. Keeping Wallace at that number wouldn't be outrageous. The Ravens, though, may approach him to rework his deal to lessen the cap burden.
Another factor in Wallace's future is how his first season in Baltimore unfolded. At the start of it, Wallace and quarterback Joe Flacco raved about their chemistry. In the first eight games, Wallace totaled 39 catches for 614 yards (10th-most in the NFL), a 15.7 yards per catch average and four touchdowns. They just didn't appear to be as in sync in the second half of the season. In his final eight games, Wallace's receptions (33), receiving yards (403), yards per catch (12.2) and touchdowns (none) all declined.
Parting ways with Wallace would be a risky move, given the potential loss at wide receiver. Smith and Aiken represented one-quarter of the Ravens' receptions and nearly one-third of the receiving yards the past two seasons. The only wide receivers under contract for 2017 are: Wallace, Breshad Perriman, Chris Moore, Kenny Bell and Vince Mayle.
The Ravens have until March 8 to make a decision on Wallace. If Baltimore exercises the option, it will pay Wallace a $1 million roster bonus in addition to his $4.75 million base salary. If the Ravens don't, Wallace becomes an unrestricted free agent, which means Baltimore can potentially pick up a compensatory draft pick if he signs elsewhere.
This is one of the many choices that have to be made in an offseason where two starters have retired (Smith and linebacker Zach Orr) and five others are unrestricted free agents (nose tackle Brandon Williams, offensive tackle Rick Wagner, fullback Kyle Juszczyk, defensive end Lawrence Guy and guard Vladimir Ducasse).