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Miami Dolphins reel in top wideout Mike Wallace with 5-yr. contract

Mike Wallace caught eight TD passes in 2011

Mike Wallace caught eight TD passes in 2011 and ’12. Credit: Mike Wallace caught eight TD passes in 2011 and ’12. (Getty Images)

The Miami Dolphins burst into free agency Tuesday by agreeing to terms with high-profile wide receiver Mike Wallace, the top free agent on the market and one of the best deep threats in the NFL.

Wallace agreed to terms on a five-year contract worth $65 million, with $30 million guaranteed.

Wallace more than fulfills the Dolphins' stated goal of wanting to get playmakers this offseason. The speedy free agent from the Pittsburgh Steelers provides the downfield big-play threat Miami's pedestrian passing offense has been missing for years.

Last season, he had 64 receptions for 836 yards and eight touchdowns. Two years ago, he had 114 receptions for 1,193 yards and eight touchdowns.

In other moves around the league, the Bills released starting quarterback Ryan Fitzpatrick and the Eagles cut cornerback Nnamdi Asomugha.

Several tight ends appear to be on the move. ESPN's Adam Schefter reported Delanie Walker will join the Titans, while USA Today reported the Chiefs will sign Anthony Fasano.

Another tight end, Tony Gonzalez, has decided to put off retirement and return for another season with the Falcons, according to Fox Sports' Jay Glazer.

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