Miami

Wade Agrees to 1-Year Deal With Heat

Dwyane Wade has come to terms on a new one-year contract with the Heat.

The Miami Heat will not have to experience life without Dwyane Wade as he has agreed to a one-year contract per NBA.com.

Wade had opted out of a contract that would have paid him over $16 million in the 2015-16 season, and became an unrestricted free agent. When Wade opted out, there was speculation that he was seeking a multi-year deal. This one year offer gives both Wade and the Heat flexibility for next off-season's salary cap jump.

“It has been an honor and privilege to play with the Miami HEAT the past twelve years. The HEAT family and I have shared incredible moments over the years and I look forward to continuing our journey. I am extremely proud of my personal contributions in helping to build the HEAT franchise and for bringing three NBA championship wins to our great city. For my entire NBA career, Miami has always been my city and my home. I’m overwhelmed with the love and support the Miami community have consistently shown me and my family throughout the years," Wade said in a statement.

In recent days, Miami reportedly came to terms with Goran Dragic on a new deal as well. With Luol Deng picking up his player option, the Heat have a formidable starting five and few questions left to answer. Hassan Whiteside and Chris Bosh are expected to join the aforementioned trio each night.

Wade's salary for next season will be worth a reported $20 million. This gives the Heat and president Pat Riley little wiggle room financially for next year. At this point, barring trades Miami will merely be able to fill in the bench with some low salary additions.

Riley could have something more up his sleeve however. There were reports earlier on Thursday that Miami planned to meet with free agent LaMarcus Aldridge. In order to add a player such as Aldridge, the Heat would have to clear significant payroll room. It may not be a possibility without including a player such as Bosh or Wade in a trade.

“This contract is a win-win for both Dwyane and the HEAT. Not only does Dwyane get to extend his Hall of Fame-worthy career with the only franchise for whom he has ever played, but he will have the flexibility next summer to sign an additional deal. And the HEAT gets to keep their franchise cornerstone while having the ability to build a championship-contending roster," Wade's agent Henry Thomas added.

Next off-season, the NBA will dramatically increase its salary cap number. This has led to interesting contract negotiations thus far this off-season. Players and teams are coming to terms with next year in mind. Wade could potentially earn more as a free agent next year, and the Heat can possibly go after a top tier free agent.

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