Miami Heat guard Dion Waiters to decline option, become a free agent

As expected, Dion Waiters will opt out and become a free agent this summer, but that doesn’t mean he won’t be back with the Miami Heat next season.

Miami Heat guard Dion Waiters will decline his player option for next season and become a free agent, sources tell ESPN’s Chris Haynes. The Heat are aware of his intentions.

Waiters will turn down an option worth about $3.2 million and, after a strong season, is in line for a substantial raise. The 25-year-old guard averaged 15.8 points, 4.3 assists and 3.3 rebounds while shooting 42.4 percent from the field and 39.5 percent from 3-point range in 46 games last season.

Because of his bounce-back year, Waiters declining his option was expected. He’s made it clear on several occasions that he wants to be back in Miami next season.

Related: Waiters wants to re-sign with the Heat 'as quick as possible'

"“I want to be there,” Waiters said last week when asked if he wants to return to the Heat during an appearance on The Hochman and Crowder Show on WQAM. “When that time comes and we sit down, we just got to make it happen. Let’s get it over with as quick as possible.”"

Waiters will likely receive offers upwards of $10 million per year. The Heat, who will have somewhere around $38 million in cap space this summer, are believed to be interested in re-signing him, but only after making a play for bigger name free agents such as Gordon Hayward.

Next: Potential free agents to replace Waiters

If Waiters can hold on long enough to let that process play out, he could be back with the Heat next season. Opting out is not a sign that Waiters doesn’t want to be in Miami, just that he wants to cash in when he can.