The South Florida Sun-Sentinel reports that Mike Wallace "doesn't have great chemistry" with Ryan Tannehill and "had his share of drops" in training camp. Wallace is still learning Mike Sherman's West Coast offense and "wasn't running at full speed" during the first three days of camp. One of the league's premier deep threats, he should become more involved as he gets adjusted to the Dolphins' scheme. Wallace signed a five-year, $30 million guaranteed contract this offseason.

The Miami Herald reports Ryan Tannehill "failed to connect" with WR Mike Wallace during the first day of training camp. Per beat reporter Armando Salguero, Tannehill continues to rely on Brian Hartline in the passing game and was "more comfortable" throwing to Brandon Gibson and tight end Dustin Keller. Signed to a $30 million guaranteed deal this offseason, the Dolphins will get Wallace more involved as he becomes acclimated in the offense.

Mike Wallace's dad says his son turned down a $76 million contract offer from the Vikings in free agency. Wallace and his father are trying to craft a narrative that "it's not about the money." The truth is that although the Vikings might have offered a deal worth $76 million in total compensation, it's unlikely they matched the $30 million guaranteed the Dolphins ponied up. Minnesota ended up settling for Greg Jennings on a five-year, $45 million deal that included $17.8 million guaranteed.

Mike Wallace missed practice on Wednesday. Wallace was absent from OTAs due to a family emergency. He's fine, and will likely return to the team shortly.

Mike Wallace's five-year, $60 million contract includes an $11 million signing bonus and $37.85 million over the first three seasons. Wallace has $27 million fully guaranteed -- the signing bonus, a $1 million base salary in 2013, and all of his $15 million base salary in 2014. Per the Palm Beach Post's Ben Volin, Wallace's $9.85 million base salary for 2015 becomes fully guaranteed if he's on the Dolphins' roster as of the fifth day of the new league year in 2014, so it's essentially guaranteed as well. Wallace has non-guaranteed base salaries of $11.45 million in 2016 and 2017.

Updating a previous item, Mike Wallace's Dolphins contract is for $60 million over five years. ESPN reported Tuesday that Wallace received $65 million, but that number may have been a bit agent inflated. While it's likely Wallace can earn an additional $5 million in incentives, the contract has a $12 million annual base value. It still makes Wallace the league's third highest paid receiver behind Calvin Johnson and Larry Fitzgerald. Wallace received $30 million guaranteed.

Dolphins agreed to terms with WR Mike Wallace on a five-year contract that includes $30 million guaranteed.

ESPN's Adam Schefter reports the Dolphins are negotiating a five-year contract with free agent Mike Wallace. Schefter describes the deal as "very, very likely to get done." So we may not see the Vikings jump into the Wallace sweepstakes after all. Schefter reported that this is a "match waiting to happen," and the money will be "well north" of $10 million per year. Appearing on NFL Live Tuesday, Schefter also confirmed that the Dolphins are in hot pursuit of free agent TE Jared Cook.

According to NFL.com, the Dolphins believe that landing free agent Mike Wallace could cost up to $13M per year. This is turning into a perfect storm for Wallace. Both the Dolphins and Vikings are in desperate need of a No. 1 wideout that can take the top off of defenses, both have carved out plenty of cap space, and Wallace is the only wideout available that fits the bill. If he really does get $13M per season, he'd be the game's third highest-paid wideout behind Calvin Johnson and Larry Fitzgerald.

The Palm Beach Post hears from "someone (it) trusts" that free agent Mike Wallace to Miami is a "done deal."