Mike Wallace has yet to sign his restricted free agent tender which will guarantee him $2.472 million in the 2012 season. The Pittsburgh Steelers aren't holding their breath that he'll have a change of heart and show up to training camp. Ed Bouchette of the Pittsburgh Post-Gazette reports the Steelers don't expect Wallace at the start of training camp and they are also likely to suspend negotiations with him.
So that leaves two options for Wallace at the moment. He can either sign the tender and report to Steelers training camp or don't sign the tender and don't show up to camp. Considering he's missed the entire offseason program to this point it wouldn't be a surprise to see him sit out.
Wallace has only one source of leverage and that's to sit out. It may not help in the long run to miss camp but there's nothing else he can do to protest his lack of a long-term contract.
Training camp ends in mid-August but the preseason continues through the end of the month. If he skips all of the preseason, then he may not return to work until the first week of September. Steelers fans obviously hope otherwise.