Dwyane Wade, Udonis Haslem opt out of Miami Heat contracts, Chris Bosh expected to follow

Dwyane Wade and Udonis Haslem said they will opt out of their contracts, and Chris Bosh is expected to follow, giving the Heat flexibility with its roster.

06/28/2014 3:58 PM

09/08/2014 7:48 PM

The offseason dominoes began falling into place for the Heat on Saturday.

Team president Pat Riley was informed that Udonis Haslem and Dwyane Wade decided to exercise the early termination option in their contracts, according to agent Henry Thomas, and the moves put into motion a plan that could retool the Heat’s roster for another run at an NBA championship. The ultimate goal, of course, is to keep LeBron James in Miami and then add some new talent around him, Wade and Chris Bosh.

“Today we were notified of Dwyane’s intention to opt out of his contract and Udonis’ intention to not opt into his contract, making both players free agents,” Riley said in a statement. “Dwyane has been the cornerstone of our organization for over a decade, and we hope he remains a part of the Heat family for life.

“Udonis has been the heartbeat of this team for 11 years. He has sacrificed countless times to make this organization successful, and he is the epitome of what this organization stands for. We look forward to meeting with Dwyane and Udonis and their agent in the coming days to discuss our future together.”

Bosh remained undecided on his contractual future on Saturday afternoon but will soon need to inform the Heat of his decision. The deadline for opt outs is Monday, and teams and players can begin negotiating free agency on Tuesday. As Heat fans went into meltdown mode on Twitter on Saturday and conflicting reports began popping up about Bosh, the Heat’s center didn’t seem too concerned.

“James Rodríguez is a beast!” Bosh wrote on Twitter after the Colombian midfielder’s goal in the first half of his team’s World Cup match against Uruguay.

Bosh said earlier this past season and again in the playoffs that he would take less money for the 2013-14 season to remain in Miami and keep the Heat’s core together. According to a report by ESPN, Bosh is seeking a new five-year contract worth between $15 million to $16 million per season. Bosh is currently on the books for more than $20 million for next season. Wade was also under contract for more than $20 million next season, and Haslem was set to be paid $4.6 million.

In the end, June 28, 2014, could be remembered as another landmark day in the history of Heat offseason roster building. The team did the unthinkable in 2010 when it lured Bosh and James to Miami to join Wade, and now a second imagining of that “super team” could be in the works.

Haslem was the first to opt out of his contract Saturday with the Bleacher Report first reporting the story. That sent off a frenzy of speculation throughout the day, and then Wade followed suit with The Associated Press first reporting Wade’s decision. James opted out earlier in the week. For the Heat, a best-case scenario as free agency begins is that its star players collectively agree to take less money spread out over more years in a collective effort to free up salary cap space.

From there, Riley would have the financial flexibility to pursue free agents. Carmelo Anthony would be the top choice, but reports have surfaced that the Heat isn’t currently an option. Point guard Kyle Lowry also has been linked to the Heat. Other options include 6-11 center Marcin Gortat or guard Trevor Ariza.

James could be seeking a max contract, according to a report by Yahoo! Sports, but he could also take less money to help the team. Wade is expected to take less money now that he opted out.

Either that or the team could be facing some serious decisions if players choose to return under max contracts. If Bosh opts out on Sunday, which he is expected to do, then the Heat would have a record $55 million of cap space entering free agency. Other than Bosh, the Heat’s only other player currently under contract is backup point guard Norris Cole. Draft pick Shabazz Napier is set to join the team for next season, as well.

James and Cole worked out together on Saturday in Miami, another small sign that the two Ohio natives would be returning to the Heat next season.

“Offseason is the real season!” James tweeted, along with his customary hashtag, #StriveForGreatness.

James, too, later watched the Colombia-Uruguay World Cup match. Naturally, the Heat’s James was rooting for Colombia’s James.

“Man watching this Colombian game I think I have my fav player in the world cup! Obviously his name help that out #Biased10 #James #WC2014,” James tweeted.

Sports Videos

Join the Discussion

Miami Herald is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Terms of Service