The Miami Dolphins' losing streak in free agency is likely over.
Wide receiver Mike Wallace has agreed in principle to a five-year deal that includes $30 million in guarantees, NFL Network first reported Tuesday.
Wallace is expected to easily exceed the five-year, $56 million deal Dwayne Bowe signed with the Kansas City Chiefs last week. Bowe received $26 million in guarantees.
Wallace, 26, has 27 career catches of at least 40 yards and brings a big-play dimension to the Dolphins' offense that has been lacking. Wallace has a career average of more than 17 yards per reception. He spent four seasons in Pittsburgh and caught 32 touchdowns, including eight in 2012.
The Dolphins last week signed their top receiver from 2012, Brian Hartline, to a five-year contract worth more than $31 million.
The fan base in Miami was irritated last offseason when a full-court press by the franchise failed to lure Peyton Manning to South Beach.
The Dolphins allowed left tackle Jake Long, the No. 1 overall pick in the 2008 draft, to test free agency.