In light of the news that the Miami Dolphins want to trade defensive end Dion Jordan, the team’s No. 3 overall pick in 2013, news has also come about that the Dolphins are gauging the trade value of WR Mike Wallace. For those who have been living under a rock over the past year, Wallace was a high-profile free agent signing by the franchise in 2013.
In fact, Wallace was handed a five-year, $60 million contract with the hopes that he’d lift the Dolphins’ offense with his big-play ability.
Instead, Wallace had a mediocre season that made people wonder if he was really worth the money the Dolphins were paying him. Wallace had just 73 receptions for 930 yards and five touchdowns. QB Ryan Tannehill and Wallace were unable to establish any deep ball chemistry as Tannehill frequently misfired on deep passes intended for Wallace.
Heading into the 2014 NFL draft, the Dolphins’ biggest issue is along their offensive line. They need to address the left tackle and left guard positions with their draft picks. The franchise is trying to move up in the draft or stockpile draft picks by shopping Jordan and Wallace and gauging their trade value. The problem is, they’re not going to receive any interest from teams when it pertains to Wallace.
The mediocre season is not the biggest problem the Dolphins have when it comes to trading Wallace. The biggest issue is his contract. The five-year veteran has a cap hit of $17.25 million in 2014. This makes him not only the highest-paid Dolphins player, but the highest-paid receiver in the NFL and the 13th-highest paid player in the entire league. That’s big money for a player with such little production, and Wallace’s salary for 2014 is guaranteed.
Because of the way the contract was structured when Wallace signed with the organization last year, the Dolphins’ only option at this point is to wait another year before releasing Wallace. In the likely event that the receiver doesn’t live up to his contract, the Dolphins can release Wallace and incur a dead money cap hit of only $6.6 million over the last three years of his contract.
As far as trading Wallace this offseason? No chance, Miami.