Dwyane Wade Opts Out Of Heat Contract To Become Free Agent

Dwyane Wade

Miami Heat All-Star Dwyane Wade has decided not to pick up his option with the Miami Heat for next year.

The 33-year-old was scheduled to make $16.1 million next season, but announced this week to decline the player option on his contract... and will become a free agent Wednesday (July 1).

Wade had made financial sacrifices during his career for the betterment of the Heat, leaving around $27 million on the table... and sources say he wants to be rewarded in his next contract.

While he's said he wants to stay in Miami, it's clear he wants to still be paid like an elite player, leaving the ball in the Heat's court.

The team, however, had preferred for Wade to opt in for 2015-16 and then work with the team on a new contract after next season... so they would have salary-cap flexibility going into the 2016 free-agency period, when Anthony Davis and Kevin Durant are likely to be on the market.

Wade has spent his entire career with the Heat. However, in the past two seasons, he's missed 48 games to injury, which has been a major area of concern as he enters the latter part of his career.