UPDATED on Friday, April 12
According to Vic Tafur of the San Francisco Chronicle on Thursday, Wallace was not signed:
Vic Tafur @VicTafur
Make that way premature. League source says #Raiders are not signing QB Seneca Wallace after all. Maybe down the road but not now.2013-4-11 19:36:53
Well, let the waiting game begin.
The Raider still need a veteran quarterback and Wallace is capable of assisting. It will be interesting to see how everything plays out as the offseason unfolds.
Seneca Wallace is expected to sign with the Oakland Raiders.
As reported Wednesday (April 10) by Jason La Canfora of CBS Sports:
Jason La Canfora @JasonLaCanfora
The Raiders are signing QB Seneca Wallace after working him out, Tyler Thigpen and perhaps others2013-4-10 19:41:05
This was a good move for the Raiders, because the reliable Wallace has the experience and ability to produce when called upon.
For his career, Wallace has tossed 31 touchdowns and only 18 picks and brings the mobility necessary to move around the pocket and escape pressure. Factor in Oakland's potential rushing attack with Darren McFadden, and it's a better situation for Wallace than it was with his last team, the Cleveland Browns.
Although he didn't see the field after the 2012 preseason, Wallace fills a need for Oakland. Matt Flynn, acquired in a trade from Seattle earlier this month, is the odds-on favorite to be the starting quarterback in 2013.
Wallace's experience, though, will go a long way, as any NFL offense could use a No. 2 or No. 3 quarterback with his professional tenure. Obviously, the ceiling for Terrelle Pryor is higher than it is for Wallace, who will enter his 11th year in the NFL in 2013, but having a savvy veteran as an insurance policy against injuries is always a good thing. And the leadership of a veteran always helps with the development of younger players, such as Pryor.
An aging Carson Palmer was simply costing too much, and Oakland was able to at least get something for him. The Raiders are looking at the long-term future, and bringing in a veteran like Wallace, who won't impact the cap too heavily, allows for other areas of the roster to be addressed in the 2013 NFL draft.
It's not going to be a quick fix for the Raiders to get back on track. However, explosive talent still remains on the offensive side to make noise this season.