Wade follows James by opting for free agency

Sat Jun 28, 2014 8:59pm EDT
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(Reuters) - Four days after forward LeBron James told the Miami Heat he was terminating his contract and becoming an unrestricted free agent, team mate Dwyane Wade followed suit on Saturday.

Wade, a 10-time All-Star guard, informed the Heat that he was opting out of the final two years on his contract, leaving him free to talk to any team when the free agent pool opens on July 1.

Multiple media reports said center-forward Chris Bosh, the other member of the Heat's 'Big Three', had also terminated his contract but the Heat had not confirmed the move.

The Miami Herald reported late on Saturday that Bosh, a nine-time All-Star, was still "undecided" on his contractual future. His deadline for an opt-out is Monday.

All three players had been widely expected to opt out of their existing deals to free up salary space for the Heat, then take less money in the short-term on fresh contracts with Miami which would deliver a much bigger pay day in the long-term.

Wade's decision came just three days after he, James and Bosh met in Miami to discuss their respective playing futures.

Power forward Udonis Haslem, a long-time friend of Wade's, also opted out of his contract with the Heat to become a free agent on Saturday.

His move, coupled with those made by James and Wade, frees up a total of around $45 million in salary for Miami next season.

"Today we were notified of Dwyane's intention to opt out of his contract and Udonis' intention to not opt into his contract, making both players free agents," Heat President Pat Riley said in a statement.   Continued...

Jun 15, 2014; San Antonio, TX, USA; Miami Heat forward LeBron James (6) and guard Dwyane Wade (3) speak during a press conference after game five of the 2014 NBA Finals at AT&T Center. Mandatory Credit: Bob Donnan-USA TODAY Sports - RTR3TZ0J