The deadline for Mike Wallace to sign his tender has come and gone. Wallace, a restricted free agent, had until today to accept the offer from the Steelers. Since he did not sign, the Steelers have the option of reducing the tender to 110% of 2011′s base salary of $525,000, which could amount to $577,500.

However, the Steelers don’t plan on reducing Wallace’s tender.

“That’s never been an intention of ours,” Colbert told WXDX-FM’s Mark Madden on Thursday, according to Mark Kaboly of the Pittsburgh Tribune-Review. “When we tendered Mike at the amount we did, the compensation through that tender, we really had no issue with that whatsoever because he is deserving of that.”

I like this move. The Steelers face perpetual salary cap issues, but if you’re trying to sign a guy to a long-term deal, it’s probably not a wise move. I certainly hope Wallace and the Steelers will be able to work out a deal.

Meanwhile, Wallace has missed OTAs and this week’s minicamp. And his absence has been noted.

“He should be here,” Rooney said Wednesday.

Ouch.

Meanwhile Coach Tomlin doesn’t seem entirely too concerned about the ordeal.

“Mike has always been a guy who’s in tip-top condition over a 12-month calendar since we had him,” Tomlin said.

“He’s a sharp guy. I’m sure he’s working at the learning element of it. But there’s no substitute for being here and being around your teammates and learning the nuances and learning from other people’s mistakes.

“It’s probably short-term misery. Hopefully, there will be some closure to this, and it will be in our rear-view mirror. Right now, he’d be better served if he were here working.”

Meanwhile quarterback Ben Roethlisberger is optimistic that Wallace will be present at training camp in July.

“I think he will be,” Roethlisberger said.

“I don’t know anything. I’m not behind the scenes. I do talk to Mike, I know Mike wants to be here bad but … there’s a lot of moving parts. I do anticipate him being here for training camp”

In the meantime, Wallace Watch 2012 drags on.