His position on the roster wasn’t guaranteed, but given the struggles of Colt McCoy at the time, it was possible Wallace could play his way into a spot.
Apparently, he didn’t have the desire as Wallace informed Niners head coach Jim Harbaugh, just hours before their final preseason game that he was going to retire.
Per Niners Nation:
Prior to the game, word came out that Seneca Wallace was thinking of retiring, and then there were rumors he was simply going to be released. Eventually we learned he did not make the trip down to San Diego. After the game, Coach Harbaugh met with the media, and during the session he informed everybody that Thursday morning, Wallace had told him he was not going to make the trip, and he was not going to continue playing football.
Harbaugh admitted being thrown a bit in terms of getting that kind of comment on game day. However, Harbaugh also said he did not try and talk Wallace out of it.
Talk about being thrown for a loop.
It probably worked out best for everybody involved as Wallace no longer wanted to continue to play and the Niners probably weren’t going to give him a roster spot after restructuring the contract of McCoy earlier this week.