With a cap hit that large, the only scenario for Wallace not being here in 2015 is a trade. That might be possible but it's going to take a combination of three things to happen.
1. Interest from a contending team that thinks someone to stretch the field is what's going to put their offense over the top.
1. The team he goes to has the cap room to absorb his contract.
2. The team has a qb in whom they have confidence can get the ball into Wallace's hands.
Wallace isn't a great route runner. That's well known about him throughout the league although many here seemed to have been surprised by it. He's not going to be an easy sell. It might be you need a special kind of quarterback to really make Wallace really pay off because at this stage of his career, no one is going to make a good route runner out of him. I don't see weak teams going after him because they usually don't have good quarterbacks.
But on the other hand, football is a game of egos and we might find a GM who's more proud than smart to take him off our hands. Personally, I'm hoping the coaching staff devotes an enormous amount of time to getting Wallace and RT on the same page in camp this year. I'm not going to fault him or any other player for not going to voluntary stuff. Yes, it would be nice if every player on the team came in for the voluntary stuff but the season is grueling and if a player needs to recoup, they should recoup.