Miami Heat star Dwyane Wade is using his opt out for the next year of his contract and will be a free agent this summer after not being able to reach an agreement with the team on a new deal and when free agency opens the guard is expected to be a target for the Los Angeles Lakers, Chicago Bulls, LA Clippers, Cleveland Cavaliers and New York Knicks.
Wade likely will remain in Miami moving forward, but the Heat star decided to opt out after the two sides could not agree on compensation prior to free agency. According to Ramona Shelburne at ESPN, Wade "will not pick up his player option for next year" and is not set to become a free agent this summer. Sources reported the news to Shelburne, but it was an expected decision from Wade, as the Miami Herald reported last week that the Heat and Wade were "not close" on a new contract.
The Herald reported after the season that Wade was looking for a three year deal worth around $20 million per season and that Miami was not willing to go that high. The team reportedly offered Wade a deal worth around $10 million per season and clearly he did not accept, as he is now using his opt out. Wade is expected to return to Miami, but it's not as simple as just signing the guard, as the team also has Goran Dragic to deal with.
Dragic is a free agent and could command a max contract and the team also has to keep in mind Hassan Whiteside's contract for 2016. Luol Deng has decided to opt into the second year of his deal and CBS Sports reports that the Wade negotiations could be connected to what the team wants to do next summer. Reports have the team looking to go after Kevin Durant in the summer of 2016 and Miami may want to ensure they have the flexibility to make an offer. Wade may use other meetings this summer as leverage to get the deal he wants from Miami, as the Cavaliers, Bulls and Lakers are reportedly interested in him.
According to Pro Basketball Talk, Wade opting out was not a surprise for Miami and Wade reportedly is looking to sign a lucrative deal after leaving "money on the table" multiple times in the past. Wade bounced back this season while averaging over 20 points per game and even though he is 33 years old, he wants to be paid like an All-Star player. Wade gave up money to help the team sign LeBron James, Chris Bosh and Udonis Haslem and now he wants to be taken care of on the back end.
Chris Mannix of SI.com reports that there is "mutual interest" between Wade and the Lakers in free agency and Los Angeles also could be a destination for Wade with the Clippers. The Cleveland Cavaliers could chase Wade to tea him up with LeBron James, but they likely do not have the cap space with Tristan Thompson, Kevin Love and James all getting deals this summer. Wade could be a potential target for the Bulls and the Knicks, but the most likely landing spot is Los Angeles if he leaves Miami.