Wade has until June 29 to decide whether he'll opt into his contract. The 33-year-old signed a two-year, $31.1 million deal with Miami last summer. If Wade exercises his player option, he will make $16.1 million this season.
The Herald reported in May that Wade is hoping to land a three-year contract, but that there is believed to be a “sizable gap” between the salary Wade is seeking and what Miami wants to pay him.
Wade reportedly is open to leaving the team if the two sides can't resolve differences in contract negotiations. Another option for Wade would be to accept a one-year deal this offseason before signing a longer deal next year.
From the Herald:
“We want Dwyane back; there is no doubt about that,” Riley said.
“He's been here 12 years. When a player has an opportunity to be a free agent, you give him the space and the time to think about that. We love Dwyane. Dwyane is a pillar. He has been part of the root structure and foundation of this franchise for 12 years. On July 1, we'll be the first ones he'll get to talk to and we'll go from there.”