Are the Heat Better Off Over Paying Wade or Letting Him Walk?

Since reports came out claiming Wade could be open to leaving Miami and signing with another team, many fans have been in a state of panic. Losing the face of your franchise can be scary, but does that mean the Heat should overpay Wade, or are they better off letting him walk?

Over the past decade, Wade has been the backbone of the Heat franchise. He currently holds the franchise record in games played, assists, steals, field goals and free throws. Wade’s done a lot for the team, and fans will never forget the three Larry O’Brien trophies he brought to the city of Miami. With this Heat team in a bit of a disarray, having Wade in a Miami uniform is like a nice warm cup of nostalgia on a cold snowy day.

The news of Wade possibly leaving was a shock to many, but could this be a blessing in disguise for Miami? In sports, it’s common for teams to overpay aging superstars in order to reward them for their services in the past, basically a lifetime achievement award, but it rarely ends well for the franchise.

The Lakers recently signed Kobe Bryant to a two-year $48.5 million deal, which has crippled the team when it comes to signing other free agents. Overpaying Wade could have the same repercussions.

Even though Wade has still been playing at a high level, his numbers have declined over the past few seasons. Wade has seen a decrease in player efficiency rating each year over the past four seasons. And last year, Wade recorded a career low in defensive win shares, block percentage, steal percentage and his lowest true shooting percentage since his rookie season. He also had his lowest field goal percentage since 2007.

Wade is an all-time great, but he’s clearly on the decline. If the Heat can’t get him for an appropriate price, they may be better moving on, and using the money to sign younger talent.

This may make sense on paper, but to the thousands of fans who have watched Wade since his rookie season in 2003, the idea of him leaving could be heartbreaking.

On the bright side, if Wade’s discrepancies are simply money based, there might not be any teams willing to offer him more money than the Heat. There isn’t a huge market for 33-year-old guards with historically bad knees and an iffy jump shot.

The possible departure of Wade has left many fans speculating. Mike Ryan, the producer of the Dan Le Batard show, has his own theory:

There are absolutely no reports about Wade playing in China but it is an interesting possibility. Wade could play in China, make a huge chunk of money, and then come back to the NBA whenever he wants and handpick whichever contender he wants to play for. It makes sense, but as of right now, China is an unlikely option.

Wade’s upcoming contract negotiations could be detrimental to the Heat’s future plans, whether he re-signs with the team or not. With Wade, the Heat are hurt financially and might not have the cap room to afford other talent, but if Wade walks, it might be hard to recruit players with just Chris Bosh as your only selling point.

It’s fair to assume that if Wade walks, there’s a good chance Dragic does as well. If these two big-name players choose to leave Miami, it could hurt Pat Riley’s reputation, thus making it even more difficult to reel in big-name stars in the future.

As of right now, this looks to be a lose-lose situation for the Heat. The only way this works out in their favor is if Wade re-signs for an affordable price, otherwise, this could end in disaster.

At the end of the day, Riley may be better off sinking with the Wade ship, rather than floating into the empty abyss on nothing more than a Bosh-fueled dingy.

All stats are courtesy of Basketball-Reference.com, unless otherwise noted.