The Miami Dolphins announced that they’ve traded WR Mike Wallace to the Vikings in return for draft compensation.
The team has traded WR Mike Wallace and a 2015 7th-round draft choice to the Minnesota Vikings in exchange for a 2015 5th-round selection.
— Miami Dolphins (@MiamiDolphins) March 14, 2015
- Armando Salguero of the Miami Herald first reported that Wallace has been on the phone with Minnesota Vikings for the last hour and was “likely” to be traded.
- Salguero adds that Wallace has texted his teammates saying that he has been on phone with Vikings GM Rick Spielman and HC Mike Zimmer, and is likely headed to the Vikings.
- Ian Rapoport of NFL Media reported earlier Friday that the Dolphins were back to fielding trade offers for Wallace now that they’ve acquired WR Kenny Stills from the Dolphins.
While reports from earlier in the day had said that Wallace was available for trade, it’s still surprising to him eventually dealt for a fifth-round pick.
Obviously, Miami is trying to clear cap space, so they can lock up Charles Clay to a long-term deal, and this move at least allows them to recoup some value for a player who was likely to be released if there was no trade.
Wallace, 28, signed a five-year, $60 million contract that included $30 million guaranteed with Miami back in 2013, so it clearly disappointing that this is something being talked about just a few years into this agreement.
According to OverTheCap.com, trading Wallace will free up $5.5 million in cap space next year, but would also create $6.6 million in dead money.
This season, Wallace caught 67 passses for 862 yards receiving and 10 touchdowns over the course of 16 games. Pro Football Focus has him rated as the N0. 53 receiver out of 110 qualifying players.