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Thread: Wallace turned down $76 million offer from Minnesota

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    Nublar7's Avatar
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    Wallace turned down $76 million offer from Minnesota

    It was mentioned earlier this offseason that the Vikings offered more money:

    http://www.finheaven.com/show...ikings+wallace

    Now we finally know how much money it was that they offered. $76 million!!!


    http://www.usatoday.com/story/sports...kings/2417579/

    "In free agency, with so many great guys, when you get the prize deal, it's always a good feeling,'' Wallace told USA TODAY Sports after Wednesday's minicamp practice. "I just wanted to be happy. Money isn't everything. A lot of people last year, when I held out in Pittsburgh, took it the wrong way, felt like I was just being greedy."

    Thing is, Wallace turned down a $76 million offer dangled by the Minnesota Vikings, his father, Mike Wallace III, told USA TODAY Sports. The Vikings later signed Jennings, the former Green Bay Packers star.

    "I know this: He's going to give Miami their money's worth,'' Wallace's father said. "Dolphins fans are going to love him. He worked hard and deserved everything he got. So don't call him selfish.''
    Wallace, 26, seems far from selfish, given how he shared his newfound wealth with his family. He bought his mom, Sanjia, a new home in Houston, and his dad received a new Cadillac SUV. His three sisters received new cars. And older brother, Reggie, who nicknamed little Mike "Rock'' as a young toddler because he never cried when he fell, gets Mike's Range Rover.
    So much for the theory that "No one was going to pay Wallace what Miami did"(Looking at you Heath). Not only did the Vikings throw almost everything they got at Wallace, but this time last year the Steelers had $50 million over 5 years on the table. He got more in Miami, but took less that what the market was willing to pay. He left $16 million on the table to join the Dolphins.

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    While I will go on record and admit, I did not like seeing Mike Wallace sign in the AFCE.

    There is still the old thinking of what is a players motivation to leave a contending team to go to a team that has issues.

    You know same thing people said when Bills signed Mario


    "When we play in Buffalo, our fans come to support us, and they get beat up". "When we play them in Miami, the Buffalo fans come down here and beat up our fans in our own stadium" - Bryan Cox
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    Note he did not say how many years the Vikings offer was for. Miami's was a 5 year contract worth $12.0 million per year. If Minnesota offered a contract worth $76 million total then I'm 95% positive it was a 6 year deal and worked out to $12.7 million per year. Not really a big difference.
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    At Minn's 7.85% income tax rate that really meant that Wallace left $10mil on the table. Now if Miami had more guaranteed or if Minn was a 6 year and not a 5 year then it made sense for him financially to be in FL.

    Every time I see a stupid post I remind myself we don't have this guy as a fan
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    Quote Originally Posted by BillsFanInPeace View Post
    While I will go on record and admit, I did not like seeing Mike Wallace sign in the AFCE.

    There is still the old thinking of what is a players motivation to leave a contending team to go to a team that has issues.

    You know same thing people said when Bills signed Mario
    The Steelers have issues also, they were only a game better than the Dolphins last year. The Steelers are a team with some major cap problems, so it might get worse for them before it gets better. It isn't like Wallace left the 49ers or Ravens to sign with the Dolphins(Though Ellerbe did leave the Ravens to come to Miami). Fact is Miami has a young quarterback with a lot of potential, a coaching staff that appears to be respected amongst their peers and yes had a lot of cap room. That is definitely attractive to a free agent looking to cash in and it is also attractive to free agents that want to win. The more money the team has the more overall talent they can bring in.

    $76 million from the Vikings, who made the playoffs in 2012? Or $60 million from the Dolphins, who missed the playoffs in 2012? I think the fact that Miami appears on paper to have more potential going forward and potentially a better young quarterback prospect than the Vikings played a big part in Wallace choosing Miami. Another factor is that he wanted to get out of the cold, the Vikings are gearing up to play the 2014 and 2015 season outside.

    In the end it really doesn't matter whether it was weather, team outlook going forward, the fact is he took less than what the market was willing to pay him. Which discredits the claims that Miami "overpaid". In fact, Miami appears to have "underpaid" Wallace.
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    The market was pretty much established for Wallace with Pitt offering 5 years and $50M, V Jackson signing, a year ago, for 5 years, $55M, and $26M guaranteed, Marshall 5 years $47M with $24M guaranteed, and Bowe at 5 years, $56M, and $26M guaranteed.

    Wallace signing for $60< with $27M guaranteed was fair. Would anyone preferred one of the other 3 WR's above, and their deals over Wallace?
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    Quote Originally Posted by Nublar7 View Post
    So much for the theory that "No one was going to pay Wallace what Miami did"(Looking at you Heath). Not only did the Vikings throw almost everything they got at Wallace, but this time last year the Steelers had $50 million over 5 years on the table. He got more in Miami, but took less that what the market was willing to pay. He left $16 million on the table to join the Dolphins.
    Could be true. Could also be true that the phins offered the most guaranteed money and he went for that.

    In any case I don't get the infatuation with the dollar amount or whether he can live up to the deal. The Dolphins had the money to spend and they spent it. The question should be if he was the best player available, not whether hes going to play like a 6 million or 13 million dollar WR.
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    Quote Originally Posted by ckparrothead View Post
    Note he did not say how many years the Vikings offer was for. Miami's was a 5 year contract worth $12.0 million per year. If Minnesota offered a contract worth $76 million total then I'm 95% positive it was a 6 year deal and worked out to $12.7 million per year. Not really a big difference.
    Ok, say the offer of $76 million was over 6 years, he still likely left another $5-6 million of guaranteed money on the table. Even if the rate is only $0.7 million more per year, it was still more.
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    Quote Originally Posted by ckparrothead View Post
    Note he did not say how many years the Vikings offer was for. Miami's was a 5 year contract worth $12.0 million per year. If Minnesota offered a contract worth $76 million total then I'm 95% positive it was a 6 year deal and worked out to $12.7 million per year. Not really a big difference.
    No mention of what Minnesota may have offered in guaranteed money, too. There's the possibility that Miami offered more in that department.
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