The deal would be a compromise between the salary-cap strapped Niners and the league’s all-time leading receiver. Rice, a 12-time Pro Bowler, initially balked at the 49ers’ demand that he take a significant pay cut. The team said it couldn’t afford to keep Rice unless he agreed to renegotiate his contract, which included a $5.49 million cap figure for the 2000 season.

Both sides have softened their stances a bit. While attending the team’s minicamp last month, Rice said he would be willing to take a cut in pay and expressed hope that he could finish his career in San Francisco. Steiner presented the 49ers with a proposal Wednesday, and the Niners made a counterproposal, which included an upgrade to their original offer. No terms were disclosed.

Walsh said there’s a chance a new deal for Rice could be reached within the next few days.

ProFootballWeekly.com asked contributing editor Joel Buchsbaum for his thoughts on Rice’s possible return.

Q: What would it mean to the team if Rice returns next season?

Buchsbaum: Rice gives them leadership. He’s been around; he knows what winning’s about. He brings toughness and confidence to the receiving corps.

Q: At this point in his career, would he be the No. 1, 2 or 3 option, given that the 49ers have Terrell Owens and J.J. Stokes?

Buchsbaum: No. 2 or 3, depending on how Stokes plays.

Q: What are the parts of Rice’s game that have changed since the prime of his career?