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UPDATE: Dwyane Wade’s has signed two-year contract with Heat

Jul 15, 2014, 4:43 PM EDT

UPDATE 4:43 pm: The Miami Heat have made it official, Wade has re-signed in Miami.

“Dwyane has been the franchise cornerstone for this team since the day he arrived 11 years ago,” said Heat President Pat Riley in a released statement. “He has shown his commitment to the Heat many times over the course of his career and has always been willing to sacrifice in order to help build this team into a champion. This time is no different. I am ecstatic to have him back in the fold and I am confident that Dwyane, as always, will be leading this team as we look to contend for NBA Championships.”

“I am proud to have spent every single day of my career as a member of the Miami Heat and to have brought three championship titles to this great city,” Wade said in his statement. “I’ve been here through the good times and the hard times. I have confidence in the Miami Heat organization and the team they are building. To all the Heat fans, in Miami and around the world, I know you will continue to show support for our team.”

Wade’s deal is two seasons starting at more than $16 million per year, with a player option on the second year.

2:23 pm: Dwyane Wade made the announcement himself on Instagram, in a way to contrast it from the guy who bolted town.

Home Is Where The Heart Is… My Home,My City,My House..#HeatLifer

We told you Wade was close to a deal with the Heat. Multiple reports confirm the deal is now done.

The deal appears to be for two years at $15 million a year, with a player player option after the first year.

Is Dwyane Wade and his knees worth that kind of money now? In the strict “would I pay a free agent from another team that?” sense no. Wade still produces when on the court, scoring 19 points a game with a very good .588 true shooting percentage and a PER of 22. But he only played in 54 games last season as part of a “knee maintenance program” and he still was slowed by the Finals, his explosiveness gone.

But it’s not about on the court, it’s about him being the face of Heat basketball for more than a decade. It’s about loyalty. It’s about rewarding/thanking him for that service. It’s about taking care of family. For the Heat and Pat Riley, they believe that if you take care of players like this other players (and their agents) see that and want to be part of that kind of organization. It’s part of what is behind Kobe Bryant’s contract with the Lakers (although the money he still draws in there impacts that decision as well).

  1. crush22 - Jul 15, 2014 at 5:22 PM

    This turd isn’t worth a penny of it. Retire already………..

  2. marcusfitzhugh - Jul 15, 2014 at 5:49 PM

    Forget whether anyone likes or dislikes the team or the player for a minute and look at this from a business standpoint (the same standpoint Wade will have within 18 months of his retirement).

    A month ago, Wade had contract with 2 years and $41.8 million owed. He opted out and signed with the same club for the same two years but at $16M per. If the reasoning is, he’s not worth it because of his knees – that’s hie employer’s problem. Wade’s knees are the result of playing basketball for that same employer. If he can’t play, the employer should have an insurance policy. Every other club has policies on their players. In this scenario, Wade retires, the policy pays some huge percent of the $41.8M, and everyone (except the insurance company’s shareholders) is happy. If Wade can play, why not pay him what he’s owed? If someone owed the Miami Heat owner $41.8M, would he take $32M? Oh yeah. That’s right. I forgot. Wade’s a patsy, a sap, an all day sucker. He can bounce a ball, but can’t balance his own books. But isn’t that why he has an agent? Isn’t he supposed to have someone in the room who is on his side? Someone that has a semblance of monetary common sense?

    Pat Riley is worth every penny he’s paid. Somehow he’s got a player AND the player’s agent to leave $10M on the table.

    • mazblast - Jul 16, 2014 at 12:28 AM

      Dyane lost his leverage when he opted out. For all the “face of the franchise” and “loyalty” blather, the bottom line is that he gambled and lost.

    • ghelton03 - Jul 16, 2014 at 1:22 AM

      Stop for a minute and think about this. Wade was not worth his original contract and he is not worth the contract he just re-signed for. He is pandered to all season by the team resting him (which only burned out their star player). He only occasionally shows up ready to play. He has lost his explosiveness. He cannot elevate and big guys can now block him, while standing flat footed. He looks tired after the first quarter. He gets injured when someone looks at him angrily. He is one of the biggest winer/floppers in the league. Riley lost LBJ because he was not able to see where the true talent was and to reward that talent. Riley was not able to see that Wade is of little value and is overpaid. Riley was not able to make the changes to keep LBJ and make the Heat a legitimate contender against the West. In my opinion Riley is not worth every penny he is paid. He is not worth a penny.

      • ghelton03 - Jul 16, 2014 at 1:31 AM

        Fans are sometime like athletes. They don’t know when to quit. They don’t know when their time has passed. Wade is (almost) done. He was (almost) useless with LBJ in the lineup. What do Heat fans think Wade is going to do without LBJ? Wade should be making no more than $9M tops.

  3. JT - Jul 15, 2014 at 6:38 PM

    Wade took less I wonder if he’s pissed at Bron about that? pat took care of him if he got. 2/34 deal

    http://thefrontofficenews.com

  4. jvw1982 - Jul 15, 2014 at 7:36 PM

    Love me some Wade…..I think winning one more championship will cement his legacy in the NBA and the Heat….Love the Heat for taking care of their own just like the Lakers the difference the Lakers had a chance to sign Phil Jackson while they had Dwight Howard and decided to sign D’antoni which screams we are not serious about winning…..now no one wants to play for them because the front office is making decisions that have nothing to do with trying to win championships…..

  5. realfootballfan - Jul 15, 2014 at 7:41 PM

    Riley has done as well as anyone could have done. He’s got a team that could realistically win the Eastern Converence still, and he’s set up the team for the summer of ’16 to swipe another big name star. Guy’s pretty good at his job I have to say.

    • ghelton03 - Jul 16, 2014 at 1:25 AM

      Stop for a minute and think about this. Wade was not worth his original contract and he is not worth the contract he just re-signed for. He is pandered to all season by the team resting him (which only burned out their star player). He only occasionally shows up ready to play. He has lost his explosiveness. He cannot elevate and big guys can now block him, while standing flat footed. He looks tired after the first quarter. He gets injured when someone looks at him angrily. He is one of the biggest winer/floppers in the league. Riley lost LBJ because he was not able to see where the true talent was and to reward that talent. Riley was not able to see that Wade is of little value and is overpaid. Riley was not able to make the changes to keep LBJ and make the Heat a legitimate contender against the West. In my opinion Riley is not worth every penny he is paid. He is not worth a penny.

  6. ravenswhat - Jul 15, 2014 at 7:57 PM

    It’s a thank you deal to a franchise player. It won’t damage the heat like Kobe’s deal did. Now THAT’S a dumb deal.

  7. kingballer99 - Jul 15, 2014 at 8:18 PM

    How many head flops does 32m buy?

  8. mazblast - Jul 16, 2014 at 12:35 AM

    “Dwyane Wade’s has signed…”

    Is ANYONE at PBT acquainted with basic English grammar?

  9. bigwii - Jul 16, 2014 at 2:50 AM

    PBT makes AP mistakes all the time, but it doesn’t matter since people still read their articles. Passive voice, “that” both aren’t supposed to be used in journalism. Is it a big deal? No. Who really cares? No one.

  10. harshedmellow - Jul 16, 2014 at 3:22 AM

    DWade is a beast; knees notwithstanding. I suspect he’s a great locker room presence. Three rings in 11 years is a deal most any NBA player would take.

    Plus he’s got more money than God. Doesn’t suck to be DWade.

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