The team announced Monday it re-signed the cornerback to a new multi-year contract. NFL Media Insider Ian Rapoport reported that the deal is for four years and is worth up to $32 million with $16 million guaranteed.
"It's a four-year deal," Grimes told ESPN's Josina Anderson. "I wanted to be back but you never know in this business and when it all worked out, I was happy."
The 30-year-old Grimes is coming off a Pro Bowl season and is the most accomplished player in Miami's secondary.
The 5-foot-10 corner played this past season on a one-year deal after coming off an Achilles tendon tear in 2012. He ranked No. 2 overall on Pro Football Focus' corner evaluations in 2013.