Free Agency Chatter: Vikings might have to offer as much as $70 million over 5 years to lure Wallace away from signing with Dolphins

WR Mike Wallace signing with the Miami Dolphins tomorrow afternoon is said to be as close to a done deal as it can get right now. Peter King of SI reported this morning that the Dolphins are believed to be negotiating against themselves for Wallace. That’s not a big surprise. Several teams like Wallace but teams were immediately turned off by agent Bus Cook’s demands at the combine as the veteran agent informed teams a few weeks back it will take $11 to $12 million per season just to get his interest in coming to the negotiating table.

One of those teams that turned away from Wallace due to his demands was the Cleveland Browns who Jason LaCanfora of CBSSports reported a few weeks back was the team Steelers officials felt Wallace would sign with.

The Miami Dolphins continue to be that one and likely only team willing to meet Wallace’s demands and the framework of a deal, that is rumored to be in the range of $58-$62 million with around $27-$30 million guaranteed, is said to be in place between the two sides.

The Dolphins are determined to get a deal done with Wallace and Wallace is said to be set on joining the Dolphins and taking his talents to Miami.

However, is there a mystery team prepared to make a big push for Wallace and lure him away from signing with Miami? If there is, many expect the Minnesota Vikings being the only team out there who might come in with an offer that comes close or exceeds the huge amount of money Miami is throwing around to Wallace’s camp. The Vikings have been rumored to be very high on Wallace and today traded the immensely talented Percy Harvin to the Seattle Seahawks. The Seahawks weren’t the only Super Bowl contender in the NFC West boosting their wide receiver corps today as the San Francisco 49ers acquired Anquan Boldin from the Baltimore Ravens for just a sixth round pick.

In regards to Wallace, the Vikings have a huge hole at WR but the chances of the Vikings being able to lure Wallace away from signing in Miami are considered slim and the feeling is the Vikings would need to top the Dolphins offer significantly and one individual was talking insane money of $70-$75 million over five years in regards to what it might take.