Former Pittsburgh WR Mike Wallace signs with Miami Dolphins

Pittsburgh Steelers wide receiver Mike Wallace (17) runs with the ball after a pass reception against the San Diego Chargers during the first quarter at Heinz Field. (Charles LeClaire-USA TODAY Sports)

Mike Wallace is indeed on the verge of becoming a Miami Dolphin, I’m told. He’s taking a physical. The sides have reached an agreement.

— Jeff Darlington (@JeffDarlington) March 12, 2013

Mike Wallace has officially joined the Miami Dolphins. According to reports, the contract is worth a whopping $65 million over five years.

The NFL’s free agency period officially opened up at 4 p.m. Eastern time on March 12, and almost immediately afterwards, former Pittsburgh Steelers star wideout Mike Wallace was reported to be in Miami taking a physical.

Basically, what that means is that the ink is merely drying on the contract between the two parties.

Unless Wallace choose to head somewhere else while the Dolphins’ docs are poking and prodding him, the Dolphins are going to have the coveted wide receiving threat they have been pursuing since drafting quarterback Ryan Tannehill eighth-overall in the 2012 NFL Draft.

For Wallace, the Kansas City Chiefs’ signing of Dwayne Bowe for $56 million over five years set the market. Wallace valued himself at a higher level than Bowe, and the Dolphins agreed.

The 6-foot, 199-pound Wallace had spent his entire four-year career with the Pittsburgh Steelers, catching 235 total passes for 4,042 yards and 32 touchdowns.

Courtesy of ESPN’s Stats and Info department, check out some stats on the Fins’ new investment:

Mike Wallace had just 8 drops in his first three seasons combined (279 targets). In 2012, Wallace had 6 drops on 116 targets

— ESPN Stats & Info (@ESPNStatsInfo) March 12, 2013

A 3rd-round pick in 2009, Mike Wallace is only player from that draft class with more than 30 TD receptions (32). Hakeem Nicks is 2nd (27)

— ESPN Stats & Info (@ESPNStatsInfo) March 12, 2013

MORE NFL: Tony Gonzalez has agreed to return to Atlanta for another year

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