Report: Dolphins Might Be Open To Trading WR Mike Wallace

According to Jason La Canfora of CBS Sports, the Miami Dolphins might be open to trading wide receiver Mike Wallace in addition to defensive ends Dion Jordan and Cameron Wake.

This news, if true, is pretty dumbfounding and especially when it comes to Wallace, who signed a five-year, $60 million contract last year with the Dolphins early in free agency after spending his first four years in the league with the Pittsburgh Steelers.

Why is it so dumbfounding and why will the Dolphins have problems moving him? For starters, trading Wallace would result in Miami incurring an $8.8 million dead money charge, as that is what’s left of his $11 million signing bonus proration. The Dolphins apparently have the cap space needed to eat it, however.

I addition to the dead money they would eat by trading Wallace, I do believe his 2014 base salary of $15 million is guaranteed, so either they would have to eat a good chunk of that as part of the deal or find a team willing to take that on. Not only that, the team that would trade for Wallace would also inherit the rest of his base salaries as well.

In short, I will be shocked if the Dolphins are ultimately able to unload Wallace.

In 2013, Wallace registered 73 receptions for 930 yards and five touchdowns in his first season in Miami.

UPDATE: Dolphins saying report is not true.