National Basketball Association

Report: Dwyane Wade to decline option, become a free agent

Published Jun. 29, 2015 4:16 p.m. ET

foxsports

By Vincent Frank

Faced with a midnight Tuesday deadline to decide on his contract, Miami Heat guard Dwyane Wade has officially decided to opt out and become a free agent, according to ESPN's Ramona Shelburne.

Rumors have persisted that Wade would forgo the second year of the two-year, $31.1 million contract he signed with Miami last summer. In addition to testing the open market later this week, Wade is said to be looking for a lofty raise from the Heat. According to some reports, Wade is seeking a deal that will pay him $60 million over three seasons, which is much more than the two-year, $20 million extension that was reported to be Miami’s initial offer to him.

At 33 and limited in terms of how many minutes he can provide, it would seem that Wade is valuing himself too highly. Though, it must be noted that Wade did average 21.8 points in just over 32 minutes per game last season. He can still put the ball in the bucket - something that a vast majority of teams need.

Both the Cleveland Cavaliers and Los Angeles Lakers are reportedly interested in the guard. Though, Cleveland wouldn’t be able to offer Wade anywhere near what he’s likely going to demand on the open market. The Lakers interest in Wade appears to be mutual.

While it’s hard to imagine Wade departing South Beach after spending his first 12 NBA seasons with the Heat, it’s no longer a foregone conclusion that he will end his career there.

This promises to get interesting before all is said and done.

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