Mike Wallace Traded to Vikings: Latest News, Reaction and Analysis

Just two years after signing Mike Wallace to be their franchise cornerstone at wide receiver, the Miami Dolphins are moving on.

On Friday, the Dolphins agreed to trade Wallace and a seventh-round pick to the Minnesota Vikings in exchange for a fifth-round pick, per ESPN's Adam Schefter.

The Dolphins and Vikings both confirmed the deal, while Jason La Canfora of CBS Sports noted that Wallace's contract will remain the same.

Per Andrew Abramson of the Palm Beach Post, Dolphins general manager Dennis Hickey said, "We thank Mike for his contributions to the team over the last two seasons. We wish him the best in the Minnesota.” 

Vikings head coach Mike Zimmer, meanwhile, shared his thoughts on Wallace's versatility, via Tom Pelissero of USA Today:

Wallace, 28, signed a five-year, $60 million deal with the Dolphins at the beginning of free agency in 2013.

Former Miami general manager Jeff Ireland hoped the exorbitant expenditure would take quarterback Ryan Tannehill to the next level, but the team ended with a thoroughly disappointing campaign all around.

While Tannehill has made steady improvements over his three years in Miami, Wallace's continued on the downward trajectory he showed during his final year in Pittsburgh.

The 2011 Pro Bowler's yardage dipped from 930 to 862 between 2013 and 2014. Most concerning was Wallace's yards-per-catch average, which has been below 13 each of the last two years.

Given that Wallace was signed mainly as an explosive deep threat, his contract loomed as an albatross behind the scenes in a rocky 8-8 season.

Wallace's yards-per-catch average dipped by nearly nine full yards since his brilliant 2010 campaign, when he averaged 21 yards per reception en route to a 1,200-yard season.

At least partially at fault was Miami's unwillingness to highlight Wallace's skill set schematically.

Only 9 percent of Tannehill's passes during the 2014 regular season went for 20 or more yards through the air—the lowest rate among starters, per Pro Football Focus.

Tannehill completed only 16 such throws all season, and Wallace had the fifth-lowest catch rate among highly targeted deep threats in the NFL, also per PFF.

Wallace was critical at times of the Dolphins' play-calling and finished his season on the bench amid a he-said, he-said situation with coach Joe Philbin.

"I just don't want my dog to say anything wrong," teammate Brandon Gibson told reporters at the time. "Differences in opinion led to Mike not playing in the second half, so that's what we're going to say about coaches. … Things that were communicated probably were misunderstood."

There are many reasons Miami would be eager to get out from under Wallace's contract, but it's not without an onerous consequence. By trading Wallace, the Dolphins incur a $6.6 million hit in dead money, per Spotrac.

In that way, it's certainly a questionable move for the Dolphins to make this year. Wallace is still young, still effective when healthy and still the best receiver on the roster. His $9.9 million cap charge was way too high for his production, but simply waiting one year would have saved Miami millions.

However, the obvious dissent between Wallace and the offensive coaching likely played a factor.

With Tannehill still developing, management may have felt it was best to eradicate a potential personality conflict—even if it cost a whole lot of money to do so. Adding wideout Kenny Stills via trade, per Pro Football Talk, from the Saints on Friday also helped ease Miami's decision.

Wallace, due $9.85 million in base salary this season, will essentially be playing on a one-year, prove-it deal in Minnesota.

The Vikings are not beholden to the restrictive, bonus-based cap holds on Wallace's contract, and their minimal investment from a trade sense makes him expendable if it doesn't work out.

From a playing perspective, the Vikings desperately needed a legitimate deep threat to take the top off defenses last season, and Wallace should provide young quarterback Teddy Bridgewater with just that.

Ben Goessling of ESPN noted that Wallace stood out to Zimmer and Norv Turner as someone they can see helping the team offensively next season.

Wallace should come motivated for a big year and possibly a second big payday, while Minnesota gets a potential Pro Bowler on the cheap.