Appels
07-05-2006, 03:01 AM
Wade signs 5 year deal with Heat
It did not take too long for the Miami Heat to reward Dwyane Wade for helping to win the team's first NBA championship.
The South Florida Sun-Sentinel has reported on its Web site that Wade and the Heat have reached agreement on a five-year contract extension worth $75-$85 million.
Wade's agent, Henry Thomas, has reportedly said that he expects the NBA Finals MVP to sign the deal on July 12, the first day that teams are allowed to sign free agents.
"We're on the same page," Thomas reportedly told the Sun-Sentinel.
Wade is eligible for a deal worth about $80 million; the exact value of the extension, much like the one agreed to by Carmelo Anthony with Denver and the one offered to LeBron James in Cleveland, will not be known until the salary cap for the 2007-08 season is set.
Wade is expected to report to practice with the U.S. world championships team in Las Vegas on July 19. And the two sides had been hoping to strike a deal before then.
But there is no real urgency on either side; he is under contract for next season with the Heat, who will defend their first NBA championship. Without the extension, Wade would become a free agent after the 2007-08 season.
But the Heat quickly made their extension offer. Obviously, they did not want to risk losing Wade during free agency
Wade has repeatedly said he wants to stay in Miami, reiterating that again Monday during a visit to Walt Disney World in Orlando, where he and teammate Udonis Haslem donned Mickey Mouse hats and were grand marshals of a Heat victory parade.
Wade also arranged for 100 underprivileged South Florida children to board Orlando-bound buses and spend the day with him and Haslem at the theme park.
Other than coach Pat Riley saying that getting Wade to agree to an extension is Miami's top offseason priority, the team has not commented on the negotiation process.
Wade was the fifth pick in the 2003 draft, and his rise to stardom was quick. He averaged a career-best 27.2 points during the regular season, making 49.5 percent of his shots, plus averaging 6.7 assists and 5.7 rebounds per night.
In the playoffs, he was even better, averaging 28.4 points — and 34.7 in the NBA finals, when he led the Heat past the Dallas Mavericks in six games.
The Associated Press contributed to this report.
It did not take too long for the Miami Heat to reward Dwyane Wade for helping to win the team's first NBA championship.
The South Florida Sun-Sentinel has reported on its Web site that Wade and the Heat have reached agreement on a five-year contract extension worth $75-$85 million.
Wade's agent, Henry Thomas, has reportedly said that he expects the NBA Finals MVP to sign the deal on July 12, the first day that teams are allowed to sign free agents.
"We're on the same page," Thomas reportedly told the Sun-Sentinel.
Wade is eligible for a deal worth about $80 million; the exact value of the extension, much like the one agreed to by Carmelo Anthony with Denver and the one offered to LeBron James in Cleveland, will not be known until the salary cap for the 2007-08 season is set.
Wade is expected to report to practice with the U.S. world championships team in Las Vegas on July 19. And the two sides had been hoping to strike a deal before then.
But there is no real urgency on either side; he is under contract for next season with the Heat, who will defend their first NBA championship. Without the extension, Wade would become a free agent after the 2007-08 season.
But the Heat quickly made their extension offer. Obviously, they did not want to risk losing Wade during free agency
Wade has repeatedly said he wants to stay in Miami, reiterating that again Monday during a visit to Walt Disney World in Orlando, where he and teammate Udonis Haslem donned Mickey Mouse hats and were grand marshals of a Heat victory parade.
Wade also arranged for 100 underprivileged South Florida children to board Orlando-bound buses and spend the day with him and Haslem at the theme park.
Other than coach Pat Riley saying that getting Wade to agree to an extension is Miami's top offseason priority, the team has not commented on the negotiation process.
Wade was the fifth pick in the 2003 draft, and his rise to stardom was quick. He averaged a career-best 27.2 points during the regular season, making 49.5 percent of his shots, plus averaging 6.7 assists and 5.7 rebounds per night.
In the playoffs, he was even better, averaging 28.4 points — and 34.7 in the NBA finals, when he led the Heat past the Dallas Mavericks in six games.
The Associated Press contributed to this report.