Skip to content

Update: Dwyane Wade opts out of contract with Heat, Chris Bosh remains undecided

Jun 28, 2014, 4:46 PM EDT

UPDATE 6:21 p.m.: Bosh apparently has not opted out just yet, and remains undecided.

4:46 p.m.: LeBron James got what he wanted. Pat Riley has gotten what he wanted. The Miami Heat are going to have cap space to maneuver this summer.

Dwyane Wade and Chris Bosh have both confirmed to the Miami Heat that they are opting out of their contracts, Tim Reynolds of the Associated Press reports. (Other reports say Bosh has yet to opt out, according to his agent, which is the same one as Wade and Udonis Haslem. Hard to see Bosh not opting out at this point, hard to see him being the one to blow up the Heat.)

While in theory they all have the right to leave Miami (free agency opens July 1), this move really makes it more likely that all three members of Miami’s “big three” — the ones that have led them to four straight NBA Finals and two titles in that span — will return together. Teams that have called trying to set up meetings after July 1 with LeBron have been rebuffed. It was expected that all three of Miami’s stars  would opt out and take pay cuts per year on new, longer deals. Haslem also opted out of the last year of his deal, as did Chris Andersen.

However, LeBron may seek an actual max deal or close to it, reports Adrian Wojnarowski of Yahoo Sports.

While Bosh, Wade and Haslem could ultimately take less money with the early termination outs in their deals, James, the NBA’s four-time MVP, is seeking a full maximum contract extension – or something close to it – to stay with Miami, sources told Yahoo Sports.  James is eligible to sign a five-year, $130 million extension with the Heat.

We will see if that pans out to be true, the idea of them all taking $15 million a year on five-year, $75 million deals has been floated. LeBron is certainly by far the best player on the Heat and the key to all their success, but he’s also the one most able to take a salary cut because his off the court income dwarfs his actual salary. If he goes for a max it will put a lot of pressure on Wade and Bosh to take much less.

Whatever happens it is very likely that Riley will have room under the salary cap to add players. While Wade’s knee issues are causing a deterioration in his game, Riley has said from the start that he wants Wade to be a member of the Heat for lift — he wants to bring him back.

Had all three Heat stars had opted in, each owed about $20 million next season, combined with Norris Cole‘s contract, the Heat would have been at the salary cap and Riley would have had no room to maneuver. With something like the proposal above where each takes $15 million Riley would be roughly $15 million under the cap to go chase name free agents.

Kyle Lowry’s name has come up. The Heat could go after big men such as Pau Gasol or Marcin Gortat, both of whom would fit their system well. Depends on how much cash the Riley has to play with and the costs for those players. Carmelo Anthony does not plan to meet with Miami at this time.

However it shakes out, it is unlikely that Miami’s big three is breaking up any time soon.

Latest Posts
  1. Anthony Davis “definitely” plans on shooting more threes this season

    Aug 29, 2015, 5:00 PM EDT

    Anthony Davis Anthony Davis

    If he develops a consistent three-point shot, it’s over.

  2. You can own Michael Jordan’s original uniform from Space Jam

    Aug 29, 2015, 9:30 AM EDT

    space jam

    Owning this may be better than seeing Space Jam 2 with Lebron James, if that project comes together.

  3. Jim Buss defends Byron Scott as Lakers coach, “He has the Laker blood in him”

    Aug 29, 2015, 8:00 AM EDT

    Los Angeles Lakers v Sacramento Kings Getty Images

    He’s a coach, a brother.” — Lakers’ co-owner Jim Buss on Byron Scott

  4. Friday night video fun: Best hustle plays of 2014-15 season

    Aug 28, 2015, 11:00 PM EDT

    2015 NBA Finals - Game Five Getty Images

    It’s not a coincidence you see stars like Chris Paul, LeBron James, Tim Duncan and Russell Westbrook in a highlight package like this.

  5. Kenneth Faried excited to see what Emmanuel Mudiay will do in Denver

    Aug 28, 2015, 7:59 PM EDT

    USA Basketball Men's National Team Training Camp Getty Images

    It is going to be a rough year in Denver as they give the keys to the offense to a rookie point guard.

  6. Charles Barkley remembers “gentle giant” Darryl Dawkins

    Aug 28, 2015, 3:58 PM EDT

    NBA House - Moynihan Station 2015 Getty Images

    Charles Barkley talked about how he never found Dawkins in a bad mood — he was always jovial.

  7. Nets’ Bojan Bogdanovic rolls ankle readying for EuroBasket, says he’ll be fine

    Aug 28, 2015, 2:15 PM EDT

    Atlanta Hawks v Brooklyn Nets - Game Four Getty Images

    It shouldn’t linger into training camp if he doesn’t aggravate it.

  8. Jim Buss heaps praise, hope on young Lakers

    Aug 28, 2015, 1:44 PM EDT

    Los Angeles Lakers Draft Picks Press Conference Getty Images

    What did you expect he would say?

Top 10 NBA Player Searches
  1. D. Rose (2361)
  2. L. James (1999)
  3. K. Irving (1882)
  4. K. Bryant (1826)
  5. A. Davis (1578)