The Heat have officially re-signed Dwyane Wade to a new contract, the team confirmed today in a press release. Word broke over the weekend that Wade had decided to return to Miami for one more season.
“We are very delighted that Dwyane decided to return,” Heat president Pat Riley said in a statement. “I believe that Dwyane can play a big part in us winning, that’s what he is all about. I’m glad he’s back.”
Wade, 36, has spent nearly all of his 15-year NBA career with the Heat since being selected with the fifth overall pick in the 2003 draft. While he had brief stints with the Bulls and Cavaliers in recent years, all of Wade’s best seasons have come in Miami, including his 12 All-Star appearances, eight All-NBA nods, and three NBA championships.
Having rejoined the Heat down the stretch last season, Wade showed he was still capable of contributing to the club, averaging 12.0 PPG, 3.4 RPG, and 3.1 APG in 21 regular season contests. He also looked like his old self in Game 2 of the Heat’s first round series against Philadelphia, leading the club to its only playoff victory with 28 points in 26 minutes.
Wade’s new – and likely final – contract with the Heat will be worth the veteran’s minimum ($2,393,887) for one season. Because the deal will only count for about $1.51MM on Miami’s cap, the tax impact will be reasonably modest, increasing the team’s projected tax bill by just shy of $2.6MM.
With Wade officially back in the fold, the Heat have 14 players on fully guaranteed contracts and may leave the 15th spot on their roster open to start the season to avoid further increasing their tax bill.
Photo courtesy of USA Today Sports Images.
Great that he is back for one last season!!!