According to the report, the team is seeking a trade because of his lack of production and his poor chemistry in the locker room with teammates and coaches.
Wallace was benched for the second half of Miami's season finale, a 37–24 loss to the New York Jets, after reportedly becoming upset about the way he was used. He said after the season that his return to the team in 2015 was in doubt.
"I'm not the general manager or anything, or the head coach," Wallace said. "I'm not sure."
"For now, Mike's under contract. We'll see where we go from there," Dolphins general manager Mike Tannebaum told a Miami radio station.
Next season would be Wallace’s third with the Dolphins after signing a five-year, $60 million deal in 2013. He caught 67 passes for 862 yards and 10 touchdowns last season.
Baltimore Ravens owner Steve Bisciotti cited Wallace when talking about how teams frequently overpay for free-agents.
"Mike Wallace got $10 million," Bisciotti said. "I don't think anybody thinks that that was a good deal. So there's always a team that has lots of money that wants to bring in playmakers, and those guys are going to get those deals, and we're just going to have to take it on the chin and move on."
Wallace, 28, is scheduled to make $9.85 million in base salary, with a $12.1 million salary cap number, next season. He's due $3 million in guarantees if he is still on the roster on March 14.
- Scooby Axson