March 12 (Bloomberg) -- The Miami Dolphins agreed to a five-year contract with free-agent wide receiver Mike Wallace that’s worth $60 million to $65 million, the Miami Herald said, citing an unidentified person familiar with the deal.
Wallace, 26, spent his first four National Football League seasons in Pittsburgh and led the Steelers in receiving yards the past three years. He’s totaled 235 receptions for 4,042 yards and 32 touchdowns.
Wallace’s contract will include about $30 million in guaranteed money and makes him the third-highest paid receiver in the NFL behind Calvin Johnson of the Detroit Lions and Larry Fitzgerald of the Arizona Cardinals, the Herald said.
Wallace had eight touchdown receptions for the Steelers each of the past two seasons after catching 10 scoring passes in 2010. Dolphins receivers had a combined three touchdown catches last season, the fewest in the NFL.
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