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Mike Wallace is a Miami Dolphin

MIke Wallace and the Dolphins have agreed to a five-year contract that will pay him between $60 and $65 million if he meets all its incentives.

The contract includes a substantial amount of guaranteed money. Although that figure is not yet known, it will be approximately $30 million.

Wallace will be the third-highest paid wide receiver in the NFL behind Calvin Johnson and Larry Fitzgerald, according to a person familiar with the deal.

The contract is not yet signed. Indeed, the Dolphins are privately denying that it is done. But Wallace is in South Florida and taking a physical and could sign the deal if he passes, as expected. He will sign the deal this evening.

The Dolphins have been making press conference plans but that will likely happen Wednesday.

Wallace is the deep-threat receiver the Dolphins have lacked since Jeff Ireland became the general manager. Frankly, the Dolphins haven't had a similar deep-threat weapon since Irving Fryar played for the team in the mid 1990s.

The Dolphins are not finished revamping their offense, and specifically their passing game.

The club is deep into negotiation for bringing former Tennessee tight end Jared Cook to the team. Cook is the seam-threat player the team wanted but could get from Michael Egnew and Charles Clay.

Cook, however, is also negotiating with the St. Louis Rams.

Interestingly, Rams free agent wide receiver Brandon Gibson remains an option in Miami, particularly if Cook does not sign. The Herald's Adam Beasley is reporting Gibson will visit the New York Jets.

Comments

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Burnett is gone. Dannell Ellerbe in the middle with Dansby and Misi on the outside. Wicked! We need Cook and a CB and then it's draft time!

If we sign Cook, i say use a 2nd or 3rd and an xtra late pick to move up to wherever we have to be (probably 4-7) and get Fisher. Dude is arguably the best LT in draft along with Joeckle.

1st Tavon Austin WR WVU
2nd David Amerson CB NC State
2nd Jonathon Franklin RB UCLA
3rd John Simon DE Ohio State
3rd Jelani Jenkins OLB Florida
4th Alvin BaileY OG Arkansas
5th Reid Fragel OT Ohio State
6th Kwame Geathers DT Georgia
7th Joseph Fauria TE UCLA

4th comp pick * Brandon Mcgee CB The University of Miami

well Ireland screw this one cook just got offerd 5yrs from the rams good job ass.....

MUST protect Tanny's blindside! And i'm not so sure Jon. Martin can do that (could be wrong). Dont see a negative to signing the best FA on the market then letting your broken down LT walk and getting one of the 2 best LT.s kn the draft (be it Joeckle or Fisher). Do your dance Jeffrey!

Adios Dansby, hello cap savings!

anybody like dustin keller?

Pretty damn impressive so far. Now Ireland has to find a starter @ TE, RT, & CB in the rest of FA &/or the draft. Still need to draft another WR too & I wouldn't be surprised if we drafted a DT if we don't give Starks a new contract.

Cook signed with Rams. Looks like we're using a 2nd rounder for a TE this year. As long as we sign a FA CB, we're good.

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