Wade opted out of the final year of his contract, turning down the $16.1 million he would have made during the 2015–16 season had he opted in.
Wojnarowski reports that the Heat and Wade are progressing in talks on what would likely be a multi-year deal. SI.com's Chris Mannix says Miami “seems determined” to figure something out with Wade before he starts talking seriously with other teams, and that anything further would damage the relationship between the sides.
Last week, Heat president Pat Riley said the team wants Wade to return.
The Miami 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. The report said Wade is open to leaving the Heat if the team doesn't raise its offer to him.
Wade has played his entire 12-year NBA career in Miami. Last summer, he opted out of his contract to provide Miami more flexibility to make personnel moves and later signed a two-year, $31.1 million deal with the Heat.
The 33-year-old averaged 21.5 points, 4.8 assists and 3.5 rebounds per game while shooting 47 percent from the field in 2014–15.
Miami finished 37–45 last season, missing the playoffs for the first time since 2007–08.
- Molly Geary