According to NFL Network's Michael Lombardi, Bush agreed to a new two-year contract with Miami. NFL.com's Steve Wyche reports the trade could be finalized as early as Thursday. Details of the trade, which was first reported by Jay Glazer of FOX Sports and Network, are not immediately known.
The No. 2 overall pick in the 2006 NFL Draft is due $11.8 million in the final year of his current contract with New Orleans. The Saints drafted former Heisman Trophy winner Mark Ingram with their first-round pick in this year's draft. That was a sure sign that they considered nearly $12 million too high a price to pay for Bush, an occasionally spectacular player who has also missed a number of games over the years with injuries.
Last season's primary ball carriers for the Dolphins, Ricky Williams and Ronnie Brown, are both free agents. Williams is 34; Brown is 29. Miami selected running back Daniel Thomas from Kansas State in the second round of this year's draft.
Bush, 26, caught 161 passes in his first two seasons in the NFL, but his production has been more sporadic since. He has never rushed for more than 581 yards in a season, and has a lifetime average of 4.0 yards per carry.
His best moment as a Saint came during the team's Super Bowl run in the 2009 season, when he had 217 all-purpose yards and scored two touchdowns to help New Orleans beat Arizona, 45-14, in an NFC Divisional Playoff game.
Bush won the 2005 Heisman Trophy for USC, but the NCAA later ruled that he accepted money and gifts while playing for the Trojans. USC lost scholarships and was banned from postseason play for two seasons. The school returned its copy of the running back's Heisman.
Bush appeared in only eight games for the Saints last season, rushing for 150 yards and catching 34 passes for 208 yards and a touchdown.