Agent shoots down report of Wade, Bosh taking big paycuts with Heat

As the Heat seek to re-sign their Big 3 of LeBron James, Chris Bosh and Dwyane Wade, the team is indicating it will have as much as $12 million in cap space to pursue other free agents, according to ESPN.com's Brian Windhorst.

For that to happen, Wade and Bosh would have to take massive discounts to stay in Miami, with James asking for a maximum salary in the neighborhood of $20.5 million. The added cap flexibility could help the Heat pursue free agents such as Kyle Lowry, whom the team reportedly covets. The team could also target center Marcin Gortat. 

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Agent Henry Thomas, who represents Dwyane Wade and Chris Bosh, shot down a report from the Oregonian on Tuesday that claimed Bosh and Wade have reached agreements to stay in Miami. The report indicated that Bosh has agreed in principal to a five-year extension that would pay him $11 million in the first year, with Wade earning $12 million in the first year of a four-year deal.

The report also said that James is seeking a maximum salary over one or two years. James, Wade and Bosh all agreed to take discounts to join Miami in free agency four years ago.

-- Chris Johnson