Dwyane Wade will return to the Miami Heat next season on a new one-year deal.
Next: LaMarcus Aldridge to Meet With Heat
He’s staying. Dwyane Wade has accepted a one-year, $20 million deal to re-sign with the Miami Heat, the Associated Press reports.
Wade posted a video on Instagram in which he narrates “Heat Lifer, baby. My city, my home, my house.”
Wade has played his entire career in Miami.
“It has been an honor and privilege to play with the Miami Heat the past 12 years,” Wade said in a statement. “The Heat family and I have shared incredible moments over the years and I look forward to continuing our journey. I am extremely proud of my personal contributions in helping to build the Heat franchise and for bringing three NBA championship wins to our great city.”
“For my entire NBA career, Miami has always been my city and my home,” Wade said. “I’m overwhelmed with the love and support the Miami community have consistently shown me and my family throughout the years.”
Wade was reportedly weighing two separate offers from the Heat since yesterday: A one-year, near-max deal or a multi-year contract with less money per year. It seems that Wade took the money for a year, and will re-enter free agency next season when the salary cap is expected to take a major leap.
“This contract is a win-win for both Dwyane and the Heat,” Wade’s agent, Henry Thomas, said. “Not only does Dwyane get to extend his Hall of Fame-worthy career with the only franchise for whom he has ever played, but he will have the flexibility next summer to sign an additional deal.
“And the Heat gets to keep their franchise cornerstone while having the ability to build a championship-contending roster.”
Wade is now the second-highest paid player on the Heat’s roster behind Chris Bosh. On Wednesday, Goran Dragic signed to a five-deal worth an average of $18 million per year.
Wade opted out of his contract worth $16.1 million for this next season, so he is getting a $4 million raise. Reports in June were generally negative, including news that the Heat were lowballing Wade with a $10 per season offer. Wade was rumored to be open to relocating and interested in the Los Angeles Lakers.
The news of Wade’s signing comes just after reports that Pat Riley will be having dinner with high profile free agent LaMarcus Aldridge. Riley can now come to the table with a full team in tact, a tempting squad including Dragic, Wade, Chris Bosh and Hassan Whiteside. Riley made re-siging his backcourt his first priority, now he can move on to trying to improve the roster.
It’s worth noting that Wade accepted the deal the same day he was reportedly hanging out in the Bahamas with LeBron James.
Things could get interesting in Miami but, at least we know now, Wade is staying in South Beach.