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 Is Mike Wallace worth a $60 million contract from the Phins. 
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Post Is Mike Wallace worth a $60 million contract from the Phins.
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Considering Wallace turned down an offer from Pittsburgh that trumped the five-year, $55.5 million deal Vincent Jackson got from Tampa Bay as an unrestricted free agent last offseason, expect a contract being placed on a table that pays Wallace in the range of $60 million or $12 million a season during unauthorized contract negotiations at this week's NFL combine.

If the sticker price for this two-time Pro Bowler scares you, please calm down and consider the Dolphins paid Jake Long that type of money ($57.5 million over five seasons), and he didn't even score touchdowns.

Is Wallace worth $12 million a season?

...

What happens to Wallace once $24-30 million is guaranteed on his next deal? The Steelers clearly know something because teams rarely let a player of his caliber get away with no strings attached.

Dolphins fans better hope that if Miami does end up going the Wallace route he'll perform like an exotic ride because there is no lemon law protection when it comes to top shelf free agency.


http://www.sun-sentinel.com/sports/miam ... 5647.story


Tue Feb 19, 2013 11:58 pm
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Post Re: Is Mike Wallace worth a $60 million contract from the Phins.
I dont think Mike Wallace is anywhere near worth 60 million. That would essentially be about the same contract we had BMarsh for who had much better results on the field. I think Wallace is a 1 trick pony who wont live up to a 60 million $ contract. This is why I would rather go with Greg Jennings he will most likely be had at a lower contract.


Wed Feb 20, 2013 2:47 am
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Post Re: Is Mike Wallace worth a $60 million contract from the Phins.
It's simple....SIGN HIM!!


Wed Feb 20, 2013 5:24 am
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Post Re: Is Mike Wallace worth a $60 million contract from the Phins.
I think Wallace is what they need but two comments come to mind: (paraphrasing)

O Kelly - Ireland doesn't swing for home runs, he goes for doubles

Simon Clancy (Draft Winds guy) - Philbin model is to find guys who can run all routes which has me thinking Jennings, Quinton Patton and Robert Woods


Wed Feb 20, 2013 5:33 am
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Post Re: Is Mike Wallace worth a $60 million contract from the Phins.
Nice player , has some baggage , would give us a dimension we surely would need , but will come down to earth when he has Tannehill throwing to him instead of Rothlesberger & a lack of talent here as opposed to Pittsburgh to protect him. I would sign him but not for 60 million.

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Wed Feb 20, 2013 7:37 am
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Post Re: Is Mike Wallace worth a $60 million contract from the Phins.
Yes.


Wed Feb 20, 2013 10:15 am
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Post Re: Is Mike Wallace worth a $60 million contract from the Phins.
If you sign Wallace to 60 million my assumption would be the Fins go with Wallace, Bess, Matthews and two drafted receivers. I guess Tyms and Binns will at least get a chance to stick as well. I also see them signing a TE while giving Clay and Egnew a chance to "breakout".

I'm just having a hard time seeing Miami commit to that deal. I know its what they need, but I can't get past the idea of Jennings for less (familiarity, character, ability to run all routes).


Wed Feb 20, 2013 10:42 am
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Post Re: Is Mike Wallace worth a $60 million contract from the Phins.
jammer wrote:
I'm just having a hard time seeing Miami commit to that deal. I know its what they need, but I can't get past the idea of Jennings for less (familiarity, character, ability to run all routes).


For A LOT less. I agree.

It's easy to think about it in terms of, "they have 46 million in cap space," and so we can afford it...but 60 million over the long haul is going to be a huge strain. Is he worth draining 10% of the cap by himself longterm?


Wed Feb 20, 2013 10:44 am
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Post Re: Is Mike Wallace worth a $60 million contract from the Phins.
"Multiple sources tell the Sun-Sentinel Steelers receiver Mike Wallace, who won't be given the franchise tag by the Steelers this offseason, is the team's top target."

Assuming the sources are in the know, it seems Dolphins are ready to pony up the cash to get Wallace.


Wed Feb 20, 2013 11:02 am
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Post Re: Is Mike Wallace worth a $60 million contract from the Phins.
shularino wrote:
"Multiple sources tell the Sun-Sentinel Steelers receiver Mike Wallace, who won't be given the franchise tag by the Steelers this offseason, is the team's top target."

Assuming the sources are in the know, it seems Dolphins are ready to pony up the cash to get Wallace.


He might be the top target but Miami might set a cap on what they are willing to give him. I know Miami has a bundle of cap space for this year but you still have to consider roster holes this offseason and next. There are a lot of extra factors we fans probably don't realize or consider.

Just posted it in another thread, but don't rule out the trade route and don't forget that other teams have to purge their rosters to get under the cap.


Wed Feb 20, 2013 12:46 pm
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Post Re: Is Mike Wallace worth a $60 million contract from the Phins.
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The Miami Herald agrees that Mike Wallace will be the Dolphins' "priority" in free agency.
Beat writer Armando Salguero has been reporting as such for weeks. Salguero expects the Dolphins to "touch base" with the reps for Wallace and Greg Jennings at the Combine, but believes Jennings is only a fallback option. GM Jeff Ireland has rarely pursued big-ticket free agents — and has struck out when he has — but the evidence he's planning a run at Wallace is bordering on overwhelming.


Wed Feb 20, 2013 2:09 pm
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Post Re: Is Mike Wallace worth a $60 million contract from the Phins.
swerve13 wrote:
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The Miami Herald agrees that Mike Wallace will be the Dolphins' "priority" in free agency.
Beat writer Armando Salguero has been reporting as such for weeks. Salguero expects the Dolphins to "touch base" with the reps for Wallace and Greg Jennings at the Combine, but believes Jennings is only a fallback option. GM Jeff Ireland has rarely pursued big-ticket free agents — and has struck out when he has — but the evidence he's planning a run at Wallace is bordering on overwhelming.


I'm glad to see it.............Wallace is the best receiver to come available in FA in a very long time. He's the closest thing to a sure bet we can get.........he deserves to get paid and the Phins have put themselves in a position to make it happen.

Tannehill throws a great deep ball...........Wallace will demand double coverage and will open up the rest of the offense. Less pressure on the O-Line, more opportunities for the running and the underneath passing game.


Wed Feb 20, 2013 3:43 pm
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Post Re: Is Mike Wallace worth a $60 million contract from the Phins.
shularino wrote:
Wallace will demand double coverage and will open up the rest of the offense. Less pressure on the O-Line, more opportunities for the running and the underneath passing game.


Miami must sign Wallace for all the reasons mentioned above. Jennings would not require a safety to stay on top of him all the time. That is what makes Wallace so special. Even if a defense slows him down, the attention he will draw will create opportunities elsewhere.

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Wed Feb 20, 2013 6:20 pm
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Post Re: Is Mike Wallace worth a $60 million contract from the Phins.
I struggled with this because of what he can do but I'm tired of guys, in all sports, who want to be paid for potential. So I say No, hes not worth it. In 2010 he showed what he was capable of but has refused to develop his game since. I believe Big Ben's ability to keep plays alive and free lance are the reasons for most of Wallace's production. There other WR's in the league that I think are more dynamic and worth that kind of money.

I will be surprised if Ireland offers him a contract that isn't incentive laden. Wallace will get his money somewhere and some other team/fans will be really happy to have him for some of their games

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Wed Feb 20, 2013 7:36 pm
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Post Re: Is Mike Wallace worth a $60 million contract from the Phins.
I like Mike Wallace and think he brings an element to the Dolphins which is much needed. Do I like him at 60 mill? Not sure about that.

We will see how much Jeff Ireland is commited to pursuing Wallace. I've read that Cleveland could be gearing up to make a run and that is were Pittsburgh fears he will end up.

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Wed Feb 20, 2013 7:40 pm
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Post Re: Is Mike Wallace worth a $60 million contract from the Phins.
I figured it would be in that range, top FA's are expensive, specially when they are only 26...

We are in need of more than 1 WR as well...

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Wed Feb 20, 2013 8:39 pm
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Post Re: Is Mike Wallace worth a $60 million contract from the Phins.
I like Wallace a lot, but not for a 60 million dollar contract. The problem is that Miami is stuck like chuck being desperate for a big play receiver. I wish Wallace was a more complete receiver like a Larry Fitzgerald, then it is a no brainer to pay that kind of money.

If they do end up signing him, let's hope about 15 go routes/9 patterns become touchdowns.


Wed Feb 20, 2013 8:43 pm
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Post Re: Is Mike Wallace worth a $60 million contract from the Phins.
10acjed wrote:
I figured it would be in that range, top FA's are expensive, specially when they are only 26...

We are in need of more than 1 WR as well...



Be thankful for a rookie wage scale. The Dolphins can draft a wide receivers in the draft,a and even if they get Wallace or Jennings, I expect the Dolphins to take a WR in either Round 1 or 2.

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Wed Feb 20, 2013 9:12 pm
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Post Re: Is Mike Wallace worth a $60 million contract from the Phins.
10acjed wrote:
We are in need of more than 1 WR as well...


That was where the Brandon Marshal experiment failed. First, we had a mediocre QB throwing him the ball, but we also had no one of value for the defense to respect either, at receiver or tight end. We need a #1 receiver, and a close #2 as well as a seam threat TE for a guy like Wallace to actually result in playoffs.

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Wed Feb 20, 2013 10:00 pm
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Post Re: Is Mike Wallace worth a $60 million contract from the Phins.
Mike Wallace across from Cordarelle Patterson would be real intimidating for any defense. Throw in Eifert or Kelce as the seam tight end and that is an offense on steroids.


Thu Feb 21, 2013 3:25 am
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Post Re: Is Mike Wallace worth a $60 million contract from the Phins.
Phins Rock wrote:
jammer wrote:
I'm just having a hard time seeing Miami commit to that deal. I know its what they need, but I can't get past the idea of Jennings for less (familiarity, character, ability to run all routes).


For A LOT less. I agree.

It's easy to think about it in terms of, "they have 46 million in cap space," and so we can afford it...but 60 million over the long haul is going to be a huge strain. Is he worth draining 10% of the cap by himself longterm?


But you're OK with a mediocre cornerback draining $10 million in cap space this year.

Say Wallace gets the 5 year, $60 million deal, first of all he isn't going to drain 10% of your cap space if you structure the deal as such:

$12 million signing bonus:

Amortizes to $2.4 million in cap each season.

$24 million in guarantees:

Half of that is the signing bonus, the rest is workout bonuses and roster bonuses in the last two years.

Base salary is $36 million over 5 years.

2013 - $5 mil
2014 - $6.5 mil
2015 - $7 mil
2016 - $8.5 mil
2017 - $9 mil

Workout bonuses of $300K a year = $1.5 million

That leaves another 10.5 mil in guarantees

$4 million roster bonus in 2016
$6.5 million roster bonus in 2017

If he isn't performing at the level we expect, you cut him in 2016 and open up some cap room. This is really a 3 year contract with a team option for a 4th or 5th year.

It's all about how the contract is structured. He'll cost $7 mil in cap space in year one and $9 mil in years 2 and 3.

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Thu Feb 21, 2013 10:00 am
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Post Re: Is Mike Wallace worth a $60 million contract from the Phins.
Rich wrote:
Phins Rock wrote:
jammer wrote:
I'm just having a hard time seeing Miami commit to that deal. I know its what they need, but I can't get past the idea of Jennings for less (familiarity, character, ability to run all routes).


For A LOT less. I agree.

It's easy to think about it in terms of, "they have 46 million in cap space," and so we can afford it...but 60 million over the long haul is going to be a huge strain. Is he worth draining 10% of the cap by himself longterm?


But you're OK with a mediocre cornerback draining $10 million in cap space this year.


There's a huge difference between a 1 year hit when you have the room Miami has, and taking the consistent hit over a number of years; years in which you don't know what the rest of your cap situation will look like, and you may very well have to make concessions on other players partly because of it.

Quote:
Say Wallace gets the 5 year, $60 million deal, first of all he isn't going to drain 10% of your cap space if you structure the deal as such:

$12 million signing bonus:

Amortizes to $2.4 million in cap each season.

$24 million in guarantees:

Half of that is the signing bonus, the rest is workout bonuses and roster bonuses in the last two years.

Base salary is $36 million over 5 years.

2013 - $5 mil
2014 - $6.5 mil
2015 - $7 mil
2016 - $8.5 mil
2017 - $9 mil

Workout bonuses of $300K a year = $1.5 million

That leaves another 10.5 mil in guarantees

$4 million roster bonus in 2016
$6.5 million roster bonus in 2017

If he isn't performing at the level we expect, you cut him in 2016 and open up some cap room. This is really a 3 year contract with a team option for a 4th or 5th year.

It's all about how the contract is structured. He'll cost $7 mil in cap space in year one and $9 mil in years 2 and 3.


Then get 'er done.

But how often do we talk about signing Free Agents to big money, and structuring their contracts so that the cap hit is reasonable like this? Every....year. And it doesn't exactly get done often.
There's competition for his services. Somebody, even if for a little less than the BS "total" number on the contract, is going to offer Mike Wallace an attractive contract that isn't structured the team-friendly way you have it.

If they can get it done for that, great. But with (I would assume) several other teams serious for his services, I'm not sure that will be the case.


Thu Feb 21, 2013 10:52 am
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Post Re: Is Mike Wallace worth a $60 million contract from the Phins.
AFCMiamiEast wrote:
10acjed wrote:
We are in need of more than 1 WR as well...


That was where the Brandon Marshal experiment failed. First, we had a mediocre QB throwing him the ball, but we also had no one of value for the defense to respect either, at receiver or tight end.\

1200 yards and 6 TD's is not really a failure. Considering his TD's numbers are a career low with us, and if you look at his numbers now he is still one of the best WR's in the game..
Still not sure why we had to get rid of him, but no use crying over spilled milk...

Wallace had a bad year, not sure if it was simply lack of snaps orchestrated by Pitt, or if he was being a baby because they only offered him 50 million... But its in black n white so have to look at it.

I would like to see a combo of Patterson, Wallace, Hartline and Bess. Think we could easily see all 4 break 500 yards, as well as seeing one break 1000 so long as Tanne's game progresses.
Considering Wallace is a 60 million dollar man, I see no reason why we would not resign Hartline in the 25 range...

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Thu Feb 21, 2013 11:31 am
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Post Re: Is Mike Wallace worth a $60 million contract from the Phins.
Phins Rock wrote:
There's a huge difference between a 1 year hit when you have the room Miami has, and taking the consistent hit over a number of years; years in which you don't know what the rest of your cap situation will look like, and you may very well have to make concessions on other players partly because of it.


There's also a huge difference in the type of player Sean Smith is on the field versus Mike Wallace.

One makes big plays, the other doesn't.

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Then get 'er done.

But how often do we talk about signing Free Agents to big money, and structuring their contracts so that the cap hit is reasonable like this? Every....year. And it doesn't exactly get done often.
There's competition for his services. Somebody, even if for a little less than the BS "total" number on the contract, is going to offer Mike Wallace an attractive contract that isn't structured the team-friendly way you have it.

If they can get it done for that, great. But with (I would assume) several other teams serious for his services, I'm not sure that will be the case.


The contract structure I outlined is not particularly team-friendly. The high base salary in year 1 is actually not the norm, but because of the amount of cap space we have, we can do it in year one and mitigate a rapidly escalating cap number in years to come.

Other teams would find it challenging to match that type of base salary in year 1 because they do not have the same amount of cap room.

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Thu Feb 21, 2013 11:44 am
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Post Re: Is Mike Wallace worth a $60 million contract from the Phins.
If you can structure it in the way that you said Rich, I'm fine with it.

I'm not sure they can, even with a high year 1 salary, (again, something we constantly mention but never gets done). And for the record I don't think they will.

I think Wallace ends up elsewhere. I still see Jennings and Hartline (back) in Miami, and they'll add some speed in the draft.

I just don't see them giving that much money to any one player, especially a guy like Mike Wallace who, regardless of how good he is, overall doesn't fit the prototype of what (seemingly) Philbin wants in a WR or what a WCO demands.


Thu Feb 21, 2013 12:26 pm
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Post Re: Is Mike Wallace worth a $60 million contract from the Phins.
Well the local reports, citing team sources, are saying Ross wants Wallace and is willing to open up the pocket book to get it and that Wallace is the top priority.

Remember, this is a guy who has missed out on two high profile coaches and a high profile QB.

He has tried to make moves to put butts in the seats and I think he will continue trying to do so.

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Thu Feb 21, 2013 1:17 pm
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Post Re: Is Mike Wallace worth a $60 million contract from the Phins.
Rich wrote:
Well the local reports, citing team sources, are saying Ross wants Wallace and is willing to open up the pocket book to get it and that Wallace is the top priority.

Remember, this is a guy who has missed out on two high profile coaches and a high profile QB.

He has tried to make moves to put butts in the seats and I think he will continue trying to do so.


This is why I think Miami will land Wallace. Ross is desperate to sell season tickets and fill the stadium. Lets not forget this about entertainment that people are willing to pay a lot of money to see.

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