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Dwyane Wade is staying in South Beach. At least for now.
The long-time Miami Heat standout delved into the pool of NBA free agency this week and came out with a one-year deal with his current team. The move was a bit unexpected after analysts had suggested that Wade and the Miami front office had been at odds for weeks.
Despite reports – and even some far fetched rumors that Wade was heading to Cleveland – the 11-time all-star is still on the Heat roster and, still, raking in the cash.
Here’s what you need to know about Wade’s deal:
1. The One-Year Deal Is, Reportedly, Worth $20 Million
THIS JUST IN: Dwyane Wade accepts one-year, $20 million deal to stay with Miami Heat. (via @AP) http://t.co/MAkHXmqIIR
Wade wanted the money and, quite simply, Wade got the money. According to a report by Yahoo’s Adrian Wojnarowski, Wade was looking for a maximum contract from the Heat, but that number was in question once Miami signed Goran Dragic to a $90 million deal on July 1.
Miami, however, was not initially interested in paying in the long-term and the two, finally, came to the agreement announced on July 2. This latest contract allows Wade to return to free agency in the 2016 offseason, when the NBA salary cap expands.
Wade told the Associated Press:
It has been an honor and privilege to play with the Miami Heat the past 12 years. The Heat family and I have shared incredible moments over the years and I look forward to continuing our journey. I am extremely proud of my personal contributions in helping to build the Heat franchise and for bringing three NBA championship wins to our great city
2. It’s an Increase in Pay for Wade After His Last Contract
Wade opted out of the final year of his last contract with Miami earlier this week. It was a contract that would have paid him $16.1 million for the 2015-16 season. It also puts a bit of pressure on the Heat’s cap space as this latest $20 million deal inches the team close to or above the league’s luxury-tax threshold.
This latest agreement was also finalized in a seemingly-usual long distance finish for the Heat. Wade, who is currently on vacation in the Bahamas, was not on hand for the official re-signing and neither was team President Pat Riley, who is working in Los Angeles on other free agency deals. According to the Orlando Sun-Sentinel, Miami has made a habit of long-distance deals, signing Chris Bosh while he was in Africa last summer and as recently as this Wednesday with Goran Dragic in Slovenia.
3. Wade Is on Vacation in the Bahamas – With LeBron James
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It was an interesting social media moment earlier this week when a handful of snap-happy fans posted pictures of Wade and former teammate LeBron James together while the two were both on vacation in the Bahamas.
Just saw LeBron James and Dwayne Wade.. I literally cannot stop shaking😭😭 http://t.co/QUVkTXj07o
James was spotted with his wife, Savannah, while Wade was seen with his wife, Gabrielle Union in the same resort. The scene sparked some intense Twitter rumors that Wade was all but a lock in Cleveland, intent on rejoining his former teammate on the court. Not so fast. The pair, and their families, are simply close friends and have even been seen vacationing together before.
4. Wade Fought Through Injuries Last Season
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It’s hard to ignore that last season was not Wade’s best season on the basketball court. He still averaged 21.5 points, 4.8 assists and 3.5 rebounds but he also only played in 62 games.
Wade: “We will see when Saturday comes.” Just feels some pain on inside of L knee, where it hit court. Right knee is fine.
Wade fought through a knee injury for the later part of the season and, for a shooting guard, the inability to cut and move on the wing tends to hinder a stat line. As of April this season, Wade was averaging just under 32 minutes a game, a career low.
He did play well when he was healthy though and that, in large part, is why Wade is still in Miami. His agent, Henry Thomas, said:
This contract is a win-win for both Dwyane and the Heat. Not only does Dwyane get to extend his Hall of Fame-worthy career with the only franchise for whom he has ever played, but he will have the flexibility next summer to sign an additional deal. And the Heat gets to keep their franchise cornerstone while having the ability to build a championship-contending roster.
5. He Broke into Broadcast During the Post-Season, Serving as an Analyst for the NBA Finals
Wade had a fairly eventful offseason. The long-time shooting guard took some time away from the court and, instead of playing, did some analyzing, serving as a special guest during coverage of the NBA Finals this summer.
He explained the decision to join the broadcast on air:
You know what? Since 2006, when we were there for the first time, I always go. Sometimes I sit down there. I just want to feel it. I just want to be a part of it. I’ve been blessed to go five times. But I go every year.
He also went to Harvard. Really. Wade attended an executive education program at the school entitled “The Business of Entertainment, Media and Sports” and, according to its website, focuses on creating a “successful entertainment offering.”