Dolphins trade Mike Wallace, 7th-round pick to Vikings for 5th-round pick

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Mike Wallace is on his way out of Miami. 

The Dolphins have traded Wallace and a 2015 seventh-round pick to the Minnesota Vikings for a 2015 fifth-round pick.

Miami had reportedly been shopping Wallace throughout the offseason, as talks about restructuring his contract did not resulted in a new deal. 

Wallace had been on the phone with the Vikings on Friday afternoon, Armando Salguero of the Miami Herald reported, presumably discussing a new contract. 

Wallace fell out of favor with the Dolphins in 2014, and was ultimately benched in the second half of Miami's Week 17 contest. Still, the speedster remains a legitimate deep threat and posted 10 touchdowns last season. 

Trading Wallace could allow Miami enough cap room to sign tight end Charles Clay to a new deal. The Dolphins will save $5.5 million against the cap with his departure.

Earlier in the day, Miami acquired receiver Kenny Stills, who should be an effective, cheaper option to replace Wallace's production. 

The Vikings are getting a true deep threat and another weapon for sophomore pivot Teddy Bridgewater to build chemistry with. Minnesota lacked playmakers on the outside last year, as Cordarrelle Patterson struggled in his second season. 

Wallace has the ability to take the top off of coverages and should also open up things for Kyle Rudolph and others in the intermediate passing game.