The Miami Heat have come to terms with Goran Dragic on a new five-year contract, according to a report by ESPN.
Dragic became a free agent at midnight on Wednesday and was able to negotiate with any team. Miami was quick to retain Dragic's services after the guard made a big impact in the latter half of last season. The deal is reported to be worth $90 million, and includes a player option after the fourth season.
When Dragic was acquired in a trade-deadline deal with the Suns, he took over a spot that was in dire need of a change for Miami. The Heat had tried several different options at point guard with inconsistent results.
Losing Dragic would have put Miami in a precarious position, and this signing could have a domino effect. Signing Dragic could aid in Miami's mission to retain Dwyane Wade. Like Dragic, the Heat veteran became a free agent at midnight. Wade may talk with other teams, but a return to Miami is still considered the most likely scenario.
When Dragic decided to decline his player option for the 2015-16 season, there was speculation that he may wait to see what Wade does. Knowing how much money is available to the team this season, and in future seasons should allow team president Pat Riley to make more moves rapidly.
The Heat may need to offer Wade more than his market value depending on the efforts of rival teams. The New York Knicks could pose a challenge to the Heat in keeping Wade in Miami. One factor that could weigh on Wade's mind however is the ability to contend. The Heat have a playoff contending roster with him on board.
Miami still needs to fill out its bench and possibly make trades for versatility financially. Josh McRoberts could be a candidate to head elsewhere this off-season.