Mike Wallace being shopped by Miami Dolphins

Wow. From the article:

"Frankly, it's hard to imagine another team giving up anything of value for the rights to Wallace's bloated salary and prima donna attitude."

This is significant.

I think they discussed taking a pay cut, now they are calling teams to shop him. The next step is cutting him and designating him a post June 1st cut.

Sad but his journey in Miami is ending. I trusted Brandon Marshall to land on his feet at his next destination more than I trust Mike Wallace.

Looks like Wide Receiver is back on the menu in the first round, boys!!!!!!

sucks really, but hopefully they find someone who can replace him and make the team better. it also sucks that now there is another glaring need that needs to be filled going into next year. it also sucks i bought my 2 year old niece a mike wallace jersey for christmas :(

"ckparrothead wrote:

This is significant.

I think they discussed taking a pay cut, now they are calling teams to shop him. The next step is cutting him and designating him a post June 1st cut.

Sad but his journey in Miami is ending. I trusted Brandon Marshall to land on his feet at his next destination more than I trust Mike Wallace.

Wouldn't designating him as a post June 1st cut save us 9.9 million that we can begin to use June 2nd? I know we can roll the money forward but cutting him outright now would save 5.5 million and allow you to find a replacement now.

The draft just got wayyyy more interesting

"bran wrote:

sucks really, but hopefully they find someone who can replace him and make the team better. it also sucks that now there is another glaring need that needs to be filled going into next year. it also sucks i bought my 2 year old niece a mike wallace jersey for christmas :(

Bummer. :sad:

Well I think this makes a WR all but certainly one of our first 2 or 3 draft picks on draft day. Its a deep draft so maybe we get someone that fits in better with our offense and lockerroom. I think we all saw this coming. I figured if we didn't get him to take a pay cut he was gone. The only problem is that if we cut him I would say its a very good chance that New England signs him and he comes back to bite us in the ass. I think New England and Seattle will be very interested in him.

I think Wallace has value, and there are team where he could fit schematically, and there are coaches that could handle him. I don't think the contract is as big of an issue as people think. Any team could significantly lower his cap hit by restructuring - giving him more years or more guaranteed money, or a combination of both.

If we do end up cutting him, I am all for taking the cap hit now and not deferring it to 2016 where there could be a regime change and subsequent roster turnover. We should be looking to create as much cap as we can for 2016.

Either way I am happy the Fins are trying to dump Wallace.

"SICK wrote:

Looks like Wide Receiver is back on the menu in the first round, boys!!!!!!

I'm so excited!!!!!!!!!!!!!!!

Not sure about the numbers but it would seem if he stayed on the roster until he got his 3mil bonus it may be more reasonable for him to accept a new contract with another team after that point.

If the Dolphins get a high enough draft pick it may worth it to wait and trade him, otherwise they will probably cut him right away and get the max in cap relief.

"Anonymous wrote:

Wouldn't designating him as a post June 1st cut save us 9.9 million that we can begin to use June 2nd? I know we can roll the money forward but cutting him outright now would save 5.5 million and allow you to find a replacement now.

I think you've got the wrong idea. In the new CBA you're allowed to cut a guy immediately but designate him as a "post-June 1st" casualty, which means you get to take advantage of an accounting accrual device that allows you to shift more of the savings into the present year.

By cutting Mike Wallace, they save $9.9 million dollars in cold, hard, cash. This is cash on the barrel head they otherwise would have been paying Mike Wallace in 2015. But due to accounting rules, the Dolphins won't save all of that $9.9 million immediately because previous money that you already paid him but have yet to account for will get accelerated. But if you're a post-June 1st casualty, only a little bit of that acceleration happens in the current year and the rest in the following year. That helps you to recognize more of the $9.9 million savings right away in 2015.

Dolphins would be free to sign whoever they want when the new league year begins (which kicks off free agency) provided they have the cap space. Even if they designate Wallace a post-June 1st casualty, they'll immediately get whatever 2015 cap space they have coming to them from cutting him.

"Zounds wrote:

I think Wallace has value, and there are team where he could fit schematically, and there are coaches that could handle him. I don't think the contract is as big of an issue as people think. Any team could significantly lower his cap hit by restructuring - giving him more years or more guaranteed money, or a combination of both.

If we do end up cutting him, I am all for taking the cap hit now and not deferring it to 2016 where there could be a regime change and subsequent roster turnover. We should be looking to create as much cap as we can for 2016.

Either way I am happy the Fins are trying to dump Wallace.

The money is a very big deal. Whoever trades for Mike Wallace is obligated to pay him $9.9 million immediately, and a total of $32 million over 3 years. Restructuring a guy doesn't offer relief from what you owe the guy. It does the opposite. It locks you into that deal which is currently worth $32 million over 3 years. To trade for him AND restructure him, you have to be convinced he's worth $10.6 million a year. And Steve Bisciotti literally just got done saying that nobody thinks signing Mike Wallace for $10 million a year was a good deal.

The best you're going to get is a team with a lot of cap space in 2015 thinking they are willing to pay a late Day 3 pick for one year of Mike Wallace's services at $9.9 million, and then if he does well you can re-visit with him on a new contract. It's possible. The team that does this would probably be one that loves speed receivers, has a quarterback with a very strong arm, and thinks they can compete right away. The Panthers and 49ers come to mind.

"ckparrothead wrote:

The money is a very big deal. Whoever trades for Mike Wallace is obligated to pay him $9.9 million immediately, and a total of $32 million over 3 years. Restructuring a guy doesn't offer relief from what you owe the guy. It does the opposite. It locks you into that deal which is currently worth $32 million over 3 years. To trade for him AND restructure him, you have to be convinced he's worth $10.6 million a year. And Steve Bisciotti literally just got done saying that nobody thinks signing Mike Wallace for $10 million a year was a good deal.

The best you're going to get is a team with a lot of cap space in 2015 thinking they are willing to pay a late Day 3 pick for one year of Mike Wallace's services at $9.9 million, and then if he does well you can re-visit with him on a new contract. It's possible. The team that does this would probably be one that loves speed receivers, has a quarterback with a very strong arm, and thinks they can compete right away. The Panthers and 49ers come to mind.

I'm very aware of what retructuring does. It almost always involves offering more years and/or guaranteed money in exchange for a lower cap hit. A deal like that isnt out of the question for a new team.

"Zounds wrote:

I'm very aware of what retructuring does. It almost always involves offering more years and/or guaranteed money in exchange for a lower cap hit. A deal like that isnt out of the question for a new team.

A restructuring doesn't involve more years. That's a contract extension. A restructuring involves shifting salary into guaranteed money so that it can be spread out over the years. A pay cut would involve actually subtracting money from the deal. Wallace does not seem up for a pay cut and if you're going to give him an extension then he has the leverage to say that this extension better pay me $10.6 million a year over the next three years because that's what I'm owed, otherwise you're asking me to take a pay cut which I'm not willing to do.

If he's not going to be able to finish his current contract he would most likely rather be on the open market so that he can have teams bidding on his services, which would get him the best new contract possible. Especially since this free agent market could end up looking pretty sparse, should Demaryius, Dez and Maclin get taken off the market as is expected, and should Torrey Smith and Randall Cobb decide to take deals and remain with their current team. The most likely of all those to make it to market is Cobb and he's a slot receiver, so Wallace would still have leverage as clearly the best perimeter wide receiver on the market.

I'm not saying no team in the league will trade for him. I'm saying no team in the league is giving up more than a late Day 3 pick or equivalent for him.

"SICK wrote:

Looks like Wide Receiver is back on the menu in the first round, boys!!!!!!

I can definitely see us doubling down on WR this draft as well, possibly with back to back picks. A trade up for Cooper is also in play, as CK suggested recently. Lot's of options here, but if we indeed cut Wallace, we'll almost certainly take more than one receiver in this draft.

Seems like were always having to backtrack and refill a spot from a failed draft pick or FA acquisition doesn't it? Treading water.
Were so consistent at this point.
Year after year epic personnel screw ups setting the team back.
Over and over again. You can almost count on our moves imploding.
It's amazing and all these years of this stuff has really made me give up on this organization ever climbing to the top again.
I know they can of course but it would take some solid leadership from the top and a solid GM which we've had neither of for quite a long time.

"Coral Reefer wrote:

Seems like were always having to backtrack and refill a spot from a failed draft pick or FA acquisition doesn't it? Treading water.
Were so consistent at this point.
Year after year epic personnel screw ups setting the team back.
Over and over again. You can almost count on our moves imploding.
It's amazing and all these years of this stuff has really made me give up on this organization ever climbing to the top again.
I know they can of course but it would take some solid leadership from the top and a solid GM which we've had neither of for quite a long time.

I feel your frustrstion. They have tried, though. Gotta give 'em that....

The next question is: What in the hell are they going to do with Ellerbe?

"ckparrothead wrote:

A restructuring doesn't involve more years.

It can involve more guaranteed years. If Wallace were to be traded, a team could guarantee a portion of his 2016 and 2017 contract years, which are currently not guaranteed, in exchange for a reduced cap hit for 2015 though 2017.

"Zounds wrote:

It can involve more guaranteed years. If Wallace were to be traded, a team could guarantee a portion of his 2016 and 2017 contract years, which are currently not guaranteed, in exchange for a reduced cap hit for 2015 though 2017.

This is incorrect.

You're making it seem as if the Dolphins have the ability to lower his cap figures for the remaining life of the contract, as if they can pay him $32 million over the next 3 years one way and only have to expense let's say hypothetically $27 million on the salary cap. This is incorrect. There is no way to do that. Every dollar paid to a player will be accounted for on the salary cap at some point. There is no way to pay a player $32 million but only expense is at $27 million.

Furthermore if you were to guarantee his 2016 and 2017 salaries, that would not even allow you to prorate those guarantees over the life of the contract. You'd still have $11.5 million salary expenses lined up for 2016 and 2017. The only way you can prorate them over the life of the contract would be if you shifted those salaries into guaranteed bonus money, either signing bonus or option bonus. If signing bonus, you can begin prorating the money now over the span of three years. If option bonus you prorate it from the year it's paid through the ending year of the contract (2017).

I thought it was a d**k move when Ravens owner Steve Bisciotti commented on the Wallace situation the other day. While he is using it as an example, it still was out of line, IMO. Say that kind of thing directly to the player behind closed doors (he was referring to Torrey Smith and the potential cost of re-signing), not at a damned PC.

He even threw in a Dannelle Ellerbe comment for good measure. Douche......

This news makes me depressed. I'm in no way saying Wallace is worth his contract, but I'd rather get rid of Hartline and draft a WR high this year and then get rid of Wallace next year. If we get rid of Wallace our opponents are going to sitting all over the short and middle routes next year, and it's not like we have proven deep threats anywhere on our roster apart from Wallace or a proven deep ball thrower. Say hello to another 8-8ish year.

This takes us back to year 1 of Philbin where we ditched players Philbin didn't like and we had to take 2 or 3 years to find their replacements. You can't keep doing that and be successful. At some point you have to get along and work with and be productive with co-workers who you don't personally like.

"Pauly wrote:

This news makes me depressed. I'm in no way saying Wallace is worth his contract, but I'd rather get rid of Hartline and draft a WR high this year and then get rid of Wallace next year. If we get rid of Wallace our opponents are going to sitting all over the short and middle routes next year, and it's not like we have proven deep threats anywhere on our roster apart from Wallace or a proven deep ball thrower. Say hello to another 8-8ish year.

This takes us back to year 1 of Philbin where we ditched players Philbin didn't like and we had to take 2 or 3 years to find their replacements. You can't keep doing that and be successful. At some point you have to get along and work with and be productive with co-workers who you don't personally like.

Totally agree. No way does the idea of cutting him this year make me happy. Cut Hartline. He is by far more overpaid of the two.

another jersey will be trash soon, i must have the worst luck ever when it comes to buying dolphins jerseys