In a perfect world, Hines Ward walks off into the sunset as a Hall of Famer who played his entire career with the Pittsburgh Steelers... In a perfect world. The reality is, he doesn't seem so inclined to ride off into the sunset just yet. So what are his options? Retire. Play for the Steelers for the NFL veteran's minimum salary (a little over $800,000).Or lastly, play elsewhere for what will likely amount to a little more than the league veteran's minimum.
Why retire? He's played 14 years in the NFL, all for one team, the Pittsburgh Steelers, recording exactly 1,000 career catches. He is a sure bet Hall of Fame player who possed both skill and blue collar techniques as a physical blocking receiver in a city the appreciates hard work and physical football. Leaving now would allow people to remember the player he is and was, not risking the memory of a faded player who's skill no longer is what it used to be...
Why stay in Pittsburgh and play for the league minimum? Because if (and that's a BIG "if") the Steelers bring him back under a new contract, his contract would only count for the league rookies minimum (around $425,000 instead of $810,000) against the salary cap. The Steelers could showcase the year as a "win for Hines" year, like they did when they "rode the Bus" to Detroit in Super Bowl XL. It would also allow Hines Ward to leave on "his" and the "teams" terms after the season and save bad PR for either side.
Why play elsewhere in 2012? Playing time. If Hines plays in Pittsburgh in 2012 he clearly will be at least 4th or 5th on the depth chart and unlikely to catch more than 30 balls during the season. Another reason might be because it's his only chance to continue his playing career. The Steelers tried very hard to get Hines the ball in the final games of the season so he could reach the 1,000 catch mark for his career. If they felt confident in bringing him back next year, this might not have been an objective goal.
Pittsburghers are all too familiar with Steelers playing "past their prime" elsewhere, most notably is Franco Harris playing for the Seattle Seahawks. If yinz couldn't tell by the image above, the two teams I predict that would make the most sense for Hines Ward in 2012, should he wish to continue his career outside of Pittsburgh, are the Arizona Cardinals and Jacksonville Jaguars. The Cardinals would make perfect sense if they go out and sign (as I am boldly predicting) Peyton Manning, should he be cut by the Colts. That move would reunite Hines with former Steelers offensive coordinator, Ken Whisenhunt. Why the Jacksonville Jaguars? It would also reunite Hines with another former Steelers offensive coordinator, Mike Mularkey, who was recently hired as the Jags new coach (thus making it easier to install the offense).
My best guess to what will happen? Hines Ward retires, but not immediately. I predict he will explore all options before accepting some type of role within the Steelers organization and "happily retires a Steeler"... I also think he will explore the idea of doing TV for ESPN or the NFL Network (or something else on television to capitalize on his Dancing with the Stars fame). If he does decide to play for another team, it won't be the first time, nor the last, that a football icon ends his Hall of Fame career with another team, below is an imagery example of what I mean.

Top row: Warren Moon, Jerry Rice, Joe Namath, Franco Harris, OJ Simpson
Middle row: Brett Favre, Emmitt Smith, Tony Dorsett, Joe Montana, Reggie White
Bottom row: Johnny Unitas, Mike Webster, Bruce Smith, Rod Woodson, Thurman Thomas