We are less than 24 hours into the official NBA Free Agency season, but there appears to be some big news coming out of Miami.
According to the Oregonian’s John Canzano, Dwyane Wade will return with the Heat on a four-year contract with an $12 salary for the 2014-2015 season – a significant pay cut considering he just opted out of a two-year, $41.5 million contact with the organization just a few days ago.
Chris Bosh reportedly will sign a five-year contract with the Heat, beginning with an $11 million salary for the 2014-2015 season. Similarly to Wade, Bosh would be taking a massive pay cut to stay with the Miami Heat organization.
Heat teammate Chris Bosh has agreed in principal to a five-year contract extension with Miami that would pay him $11 million in the first year, the source confirmed. Further, Heat teammate Dwyane Wade has agreed to re-sign in Miami for four years, beginning at $12 million in year one.
If the reports are true, this will be a huge step in the goal to resign LeBron James, who is reportedly seeking a two-year contract at the maximum salary. This also helps the Heat (specifically Pat Riley) in their free-agent search because players would know for certain they would be committing to an organization that has championship aspirations the next few seasons.