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The Miami Dolphins got their man shortly after the free-agent signing period opened Tuesday by agreeing to terms with high-profile wide receiver Mike Wallace, the top free agent on the market and one of the best deep threats in the NFL.

According to multiple reports, Wallace agreed to terms on a five-year contract worth $65 million, with $30 million guaranteed.

According to the South Florida Sun-Sentinel, Wallace more than fulfills the Dolphins' stated goal of wanting to get play-makers this offseason. The speedy free agent from the Steelers provides the downfield big-play threat Miami’s pedestrian passing offense has been missing for years.

Wallace had 114 receptions for 1,193 yards and eight touchdowns in 2011 and was selected to his first Pro Bowl. The 25-year-old has led the Steelers in receiving touchdowns the past two seasons after tying for the team lead in his rookie season.

Pittsburgh changed offensive coordinators after the 2011 season, parting ways with Bruce Arians and hiring former Chiefs coach Todd Haley.

Last season, he had 64 receptions for 836 yards and eight touchdowns.

The major knock on Wallace is he has a tendency to drop passes. He had five drops through six games last season, including four in a game against Cincinnati. But that was unusual. Wallace had never dropped more than four passes in season prior to last year.

The way things appear now, Wallace will team with fellow wide receiver Brian Hartline and slot receiver Davone Bess to form the basis of the wide receiver corps for quarterback Ryan Tannehill.

The Dolphins, who began Tuesday’s free agency signing period with $31 million, are still thought to be in the running for Tennessee tight end Jared Cook, who has the skills to run the seam route (down the hashmarks) and make plays in the red zone (inside the opponents’ 20-yard line), another missing element of the Dolphins’ offense.

The Dolphins seemingly have placed a premium on improving their passing offense.

Last season, Miami was 26thin passing offense; two seasons ago they were 23rd.

Last year, Miami was 27thin scoring at 18.0 points per game; two seasons ago they were 20th at 20.6 points per game.

As the Sun Sentinel suggested, Wallace should help improve those numbers. And his ability to get open deep should open up underneath routes for Bess and the tight ends. The attention Wallace commands should make life easier for Hartline on the other side.

The fact that Wallace is an established deep threat should also help Tannehill in his second year in the league.