Saturday is shaping up to be a big day for the Heat. First, it was reported that Udonis Haslem has opted out of his deal, now Dwyane Wade has followed suit while Chris Bosh remains undecided, according to multiple media reports.
All three players have the same agent representation and Wade and Haslem now join LeBron James as Miami players who have opted out this summer. The moves do not necessarily mean they are looking to play elsewhere next season, rather it is their effort to give Heat president Pat Riley and Miami's front office the salary cap flexibility to potentially recruit free agents like Carmelo Anthony, who said in June that he is opting out of the final year of his deal with the Knicks to test free agency. Bosh, Wade and James met earlier this week at a South Beach restaurant to discuss their futures.
By opting out, Wade forgoes the final two years and $41.8 million on his deal. Similarly, Bosh, should he decide to opt out, gives up nearly $43 million over the next two years.
The free agency period officially begins July 1.
Can now confirm through agent that Pat Riley has been informed of Haslem/Wade opt outs. Chris Bosh "has not yet decided."— Joseph Goodman (@JoeGoodmanJr) June 28, 2014
Chris Bosh plans opt out of contract, source tells ESPN. Dwyane Wade & Udonis Haslem also out per reports. Heat have record 55M cap space— Brian Windhorst (@WindhorstESPN) June 28, 2014
Dwyane Wade has opted out.— Tim Reynolds (@ByTimReynolds) June 28, 2014