Wide receivers reported to be on around $12m a year, after signing on a five-year deal.
In a widely predicted free agency move, Mike Wallace has officially agreed terms with the Miami Dolphins.
Wallace was undergoing his physical shortly after the gates of free agency opened at 4 p.m. ET and the move has now been completed.
The receiver will be reported to be earning in the region of $30m guaranteed over a five-year deal, with an average of $12m a year, according to CBS reporter Jason LaCanfora.
The move instantly upgrades a stagnant Miami offence and goes a long way to helping them to compete with New England for the AFC East title next season.
Wallace was the prized possession of the free agent market this year and it seems the Dolphins have secured him without too much competition at all.
Wallace’s arrivals comes just days after the Dolphins locked down receiver Brian Hartline and his arrival should give young Quarterback Ryan Tannehill something to aim at.