Dwyane Wade Officially Opts Out Of Contract With Miami Heat

USA Today

With the start of NBA free agency about 24 hours away, there’s been tons of speculation and rumors floating around the league in terms of potential landing spots of some of the biggest names in the NBA.

One of those players is three-time NBA champion Dwyane Wade of the Miami Heat. Wade has played for the Heat for his entire career and many believed he’d one day retire in Miami, but now it appears there’s a good chance he’ll be headed elsewhere this summer.

According to ESPN’s Ramona Shelburne, Wade has opted out of his contract with Miami:

Dwyane Wade, a perennial All-Star and three-time NBA champion, has decided not to pick up his option with the Miami Heat for next year.

Wade, who was scheduled to make $16.1 million next season, announced his decision through a representative. He will automatically become a free agent Wednesday.

Wade was hoping to sign a three-year contract extension at about $20 million per season. At 33, and with numerous injury issues over the last few years, that didn’t seem like a great investment for Pat Riley and company.

The reluctance of the Heat brass to pay Wade’s desired contract over the next three years led to the star guard opting out. The real question now is what kind of market there will be for Wade in free agency. Although Wade still has star power and clearly has a bit of gas left in the tank, it’ll be interesting to see what kind of offers he receives in the coming weeks.

Ultimately, Wade may simply re-sign with the Heat when it is all said and done. The only problem is the franchise is focused on making a strong push for Kevin Durant next summer and don’t want to lose flexibility by signing an aging superstar.