The Miami Heat and Dwyane Wade have reached an agreement on a new contract.
The player announced the deal on his personal social media accounts:
According to the Associated Press, the deal will be worth roughly $15M per season and run for two years, with an option for the second year - allowing for re-negotiation and a possible raise after 2015. Wade's contract will pay him roughly $5M less per year than he would have earned if he hadn't opted out - a move designed to free up cap space for Chris Bosh and LeBron James. James, as you might have heard, elected to leave for Cleveland rather than re-sign in Miami, but Bosh officially inked his five-year, $118 million contract late last week.
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