The two sides met at the Combine last week, but sources have told Salguero that discussions did not start well, and the parties are “way, way far apart.”
According to Salguero, the Dolphins were apparently trying to get Wake to agree to a deal that would significantly reduce his 2016 cap figure of $9.8 million.
Wake anticipated that this was what the team was looking to accomplish with these talks, but also thought Miami wasn’t going to ask him to take a pay cut on top of reworking his contract.
Instead, Salguero mentions that Wake thought the Dolphins may increase the guaranteed money included in his contract, which would allow him to remain with the team for the foreseeable future.
As of now, sources tell Salguero that significant differences still remain regarding a reworked contract.
Jason La Canfora of CBS Sports reported a few days ago that talks between the Dolphins and Wake went nowhere at the Combine, and added that there’s no reason for Wake to accept a pay cut right now.
The Dolphins just used their transition tag on DE Olivier Vernon, so there’s a chance they may have to allocate big-money to keep him from leaving Miami.
Wake, 34, is in the fourth year of his five-year, $34.53 million contract that included $17 million guaranteed. He’ll make a base salary of $8.2 million this season and another $8.275 million next year.
In 2015, Wake appeared in seven games and recorded nine tackles, seven sacks, and four forced fumbles for the Dolphins. Pro Football Focus has him rated as the No. 3 defensive end in a 4-3 defense out of 46 qualifying players.
We’ll have more regarding an extension for Wake as the news is available.