The Jacksonville Jaguars will be after a wide receiver in free agency and there expects to be some good players available. I've been asked quite a few times on Twitter and via e-mail about Pittsburgh Steelers wide receiver Mike Wallace, who's a restricted free agent. It's unlikely Pittsburgh will franchise tag Wallace, because they frankly don't have the salary cap room. Pittsburgh is currently over the cap and they're going to need to dump some salary and shuffle around money if they want to get under it. This means it's likely that Mike Wallace will just get a restricted free agent tender, but he'll undoubtedly receiver the first round tender.
This means that a team can sign Wallace to an offer sheet, but they will have to give up their first round pick to the Pittsburgh Steelers if the Steelers cannot or do not match it. A deal like this makes sense for someone like the San Francisco 49ers, the Baltimore Ravens, or the New England Patriots. A team with a first round pick in the back end, not for a team like the Jaguars who pick 7th overall. While Wallace would be a worthwhile get and clearly the No. 1 free agent wide receiver, giving up a top 10 pick and paying him $50+ million to boot just isn't feasible for this team. You're much better off spending the money on someone like Marques Colston or Dwayne Bowe and using your first round pick on something useful.