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Wallace, an unrestricted free agent, could return to the Ravens, ESPN.com's Jamison Hensley reports.
The Ravens signed Michael Crabtree and John Brown to replace Wallace, Jeremy Maclin and Michael Campanaro, but the team still could bring back one of its veterans if the price is right. Wallace doesn't seem to be generating much interest in free agency, despite leading an undermanned Baltimore offense in receiving yards both of the past two years. it doesn't help that he'll turn 32 in August, but he's only missed two games in a nine-year career and is coming off back-to-back seasons in which he's averaged above 8.0 yards per target.
