The team announced on Saturday the defensive end signed a contract extension that will keep him in South Beach through the 2018 season. Wake's previous contract was set to expire following the 2017 season.
NFL Network Insider Ian Rapoport reports Wake's deal is a new two-year contract worth up to $18 million with $11 million guaranteed, per a source informed of the deal. Rapoport adds if Wake plays 55% of the snaps over each the next two years, he'll receive the entire $18M ($1M in incentives per year).
Wake amassed 11.5 sacks during the 2016 season and has accumulated 81.5 in his eight-year career.