Some interest was an understatement because the 49ers announced Thursday that Wallace is the newest member of the club. They also announced that wide receiver Ricardo Lockette has been released to make room for Wallace on the roster.
Wallace will now enter a competition with Colt McCoy, Scott Tolzien and rookie B.J. Daniels for that backup role. Daniels is probably ticketed for either the third job or the practice squad, but McCoy and Tolzien have struggled during their playing time in the preseason. The fact that Wallace is on the team underlines the team’s lack of satisfaction in those two options, although he’s going to have to pick things up relatively quickly in order to leapfrog the other choices.
Lockette spent last season on the 49ers’ practice squad. He had two catches for 105 yards and a touchdown with the Seahawks in 2011.