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Details will be telling in Wallace deal

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There are now multiple reports — with no real details — regarding the contract signed Tuesday by new Dolphins receiver Mike Wallace.

But there are scant details regarding the five-year, $60 million deal, $30 million of which is reportedly guaranteed.

The average works out to a new second-tier high-water mark of $12 million annually on the nose.  However, until the year-by-year breakdown can be analyzed, it will be impossible to know whether it’s real or imaginary.

Remember Mike Vick’s supposed six-year, $100 million deal?  It was five-year, $80 million contract with a phony sixth year at $20 million tacked on to push it to nine figures.

The key metrics for the Wallace contract will include the signing bonus, the money fully guaranteed at the time of signing, and the total amounts paid out in the first, second, and third years.

As we reported last night (it feels like a month ago), new Seahawks receiver Percy Harvin is getting $36 million over three years, a real $12 million average.  And Harvin didn’t have the leverage of an unrestricted free agent.

If Wallace falls short of his six-year average in the first three, that doesn’t mean it’s a bad deal.  After all, the Dolphins ended up bidding against only the Dolphins to get him.

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12 Responses to “Details will be telling in Wallace deal”
  1. mz1394 says: Mar 13, 2013 7:35 AM

    Dolphins competing with themselves huh?! Funny I saw multiple articles on here linking him to the Vikings also so you are admitting to just making stories up. NICE!!

  2. raiderinva says: Mar 13, 2013 7:57 AM

    Are we just a touch bitter that Mike Wallace left Steeler Country and got paid?

  3. bigbenownsthenfl says: Mar 13, 2013 8:21 AM

    It’s a bad deal any way you slice it! Cmon man. This guy should be nowhere near Fitzgerald or Megatron money!

  4. gtodriver says: Mar 13, 2013 9:07 AM

    And the Seahawk fans have been trying to say they got a steal on Harvin because they got him for less money than Wallace.

    Evidently math is not a strength in the Pacific Northwest…

  5. cdaz18 says: Mar 13, 2013 10:02 AM

    $25 guaranteed is less then $30 guaranteed. That math is pretty simple. @gtodriver

  6. hdahs143 says: Mar 13, 2013 1:02 PM

    @cdaz18

    You seem to have forgotten those 3 draft picks that went to Minnesota as part of the deal

    Miami got the better deal.

  7. yousuxxors says: Mar 13, 2013 1:48 PM

    i would of went after jennings

  8. olyhawk says: Mar 13, 2013 2:23 PM

    Considering Seattle picks unprecidently well in the middle rounds, that first rounder isn’t a big deal at all. If percy was a draft pick this year he’d go in the top five, much farther ahead than the number 25 pick

  9. Sometimes Interesting says: Mar 13, 2013 3:30 PM

    Value is relative.

    Wallace has averaged 8 TDs a year over his career. The Dolphins haven’t had a wide receiver catch that many since 2005, and haven’t had a deep threat since the 90s.

    Say what you will about “overpaying”, but the fact is Fitz and Megatron weren’t free agents. If you want to upgrade your WR corps, you sign the best FA available. This year it was Wallace.

    $12M/year isn’t overpaying to the Dolphins because they haven’t had that level of player.

  10. themackstrong says: Mar 13, 2013 9:15 PM

    Florio math is kinda of funny. Don’t let the truth get in the way of a juicy story. 6 years @ 67 million = 11.16..But Florio takes away his first year and makes it 12.

  11. supaman50 says: Mar 14, 2013 12:04 AM

    Such nonsense comments like “Dolphins bid only against themselves”. Like Mike Wallace couldn’t have gotten at least $10 million a season from about 10 teams. He was the top Vikings target to – which was reported on here.

    QUIT with non stop Dolphins bashing on here!

  12. seadawgs72 says: Mar 16, 2013 5:40 AM

    The Dolphins haven’t had a deep threat since the 90s? Does Brandon Marshall not qualify? I think what you meant to say is they haven’t had a qb since the 90s.

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