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Dolphins Sign WR Mike Wallace

MIAMI (CBS4) - The Miami Dolphins have signed free agent wide receiver Mike Wallace.

Although terms of the deal were not disclosed by the team, multiple reports indicate Wallace agreed to a five-year,$65 million contract with $30 million guaranteed.

Wallace is the player Miami has been coveting for weeks. His speed and ability would completely open up the offense because defenses would have to respect Wallace's ability to go deep at any time. In theory, this would open up underneath routes for Brian Hartline, Davone Bess, and a tight end.

"He'll translate well to that offense," former NFL executive Bill Polian of ESPN told the Palm Beach Post.

That said; the fact that Pittsburgh, universally heralded as one of the best franchises in the NFL, chose to let Wallace leave and the fact that no other team is reportedly in contention to pony up big bucks for Wallace may be a sign of something else.

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