Wade, 33, opted out of the final year of his previous contract with the Heat late last month. Wade had signed a two-year, $31 million deal last summer with a $16.1 million option for the 2015–2016 season.
“It has been an honor and privilege to play with the Miami Heat the past 12 years,” Wade said in a statement to the Associated Press. “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.”
Wade’s agent, Henry Thomas, added,“This contract is a win-win for both Dwyane and the Heat. 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 has spent all 12 of his NBA seasons with the Heat. Last summer, he opted out of his previous deal to provide Miami additional financial flexibility before signing the $31 million deal.
Late last month, Heat president Pat Riley said the team wanted Wade to return.
Wade averaged 21.5 points per game last season, his most since the 2011–2012 season. He also added 4.8 assists and 3.5 rebounds over 62 games.
Over his 12-year career, the 11-time All-Star has averaged 24.1 points, 5.9 assists and 4.9 rebounds.
Shortly after news of his agreement was announced, Wade posted a video to Instagram with the caption, “Let’s Get It! #HeatNation”
- Mike Fiammetta