While NFL Media Insider Ian Rapoport reports of the Dolphins shopping Wallace, the wideout has no plans to rework his contract to remain with the team.
According to the Sun-Sentinel, Wallace, displeased with the conservative nature of the team's offense, would rather test the free-agent market than re-work the details of his contract.
It's an eye-blinker to read that Wallace might believe he could come anywhere close to earning nearly the $9.9 million due in 2015 on the open market given his locker room concerns, middling play the past two seasons and a deep free-agent pool and a draft. When other owners, like the Ravens' Steve Bisciotti -- unprovoked -- are using your contract to explain overpaying, it's not a good thing.
Have things gotten so bad in Miami that Wallace would rather risk getting less on the open market than he would in a restructure?
New executive vice president Mike Tannenbaum isn't giving away what road he'll take at the moment.
"Mike is a guy who is under contract for now. We're discussing all our options," Tannenbaum told WINZ-AM on Thursday. "Coach (Joe) Philbin, (owner Steve) Ross, Dennis (Hickey) and myself, we've talked. For now Mike is under contract, and we'll see where things go from there."
There are four options: Wallace can play under his current contract for one more year (when he becomes immensely more cuttable); be traded; be cut; or restructure his contract. If he doesn't want to do the latter, cutting him might become the best option for the Dolphins.