Dwayne Wade, who carried the Miami Heat to their first NBA
championship, signed a three-year extension with a player option
similar to the one agreed upon by the Cleveland Cavaliers superstar
LeBron James.
The exact value of Wade's contract will not be known until the
next salary cap is set in July 2007, but based on some cap
projections, it could be worth in the US$63 million.
Last week a Florida newspaper reported that the 24-year-old
agreeing on a maximum five-year contract that was to be worth
around US$80 million.
James, who was also rumored to ink a five-year extension before
the free-agent moratorium was lifted earlier Wednesday, agreed to a
three-year contract extension with a player option worth about
US$60 million on Wednesday.
By opting to take the shorter deal, Wade, who has been adamant
about staying in Miami, could become a free agent following the
2009-10 season, allowing him the ability to sign a more lucrative
deal.
Getting Wade, who was already under contract to make 3.84
million dollars next season in the final year of his rookie
contract from 2003, to agree to any sort of an extension was the
top off season priority for Heat coach and president Pat Riley.
(Xinhua News Agency?July 13, 2006)
