Miami Heat G Dwyane Wade opts out of $16 million 2015-16 option

Miami Heat guard Dwyane Wade has decided to opt out of the final year of his contract, according to the Sun-Sentinel.

Miami Heat guard Dwyane Wade has decided to opt out of the final year of his contract, a publicist for Wade confirmed to the Sun-Sentinel. Ramona Shelburne of ESPN first reported the news. 

The 33-year-old signed a two-year, $31.1 million deal with Miami last summer. If Wade had exercised his player option, he would have made $16.1 million during the 2015–16 season.

Wade is still free to sign with the Heat despite opting out. The MiamiHerald reported in May that Wade hopes to land a three-year contract, but that there is a “sizable gap” between the salary Wade is seeking and what Miami wants to pay him. 

Wade reportedly is open to leaving the team if the two sides can't resolve differences in contract negotiations. Another option for Wade would be to accept a one-year deal this offseason before signing a longer deal next year.

Last summer Wade opted out of his contract, which would have paid him $41.6 million over two years, to provide Miami more flexibility to make personnel moves.

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Heat president Pat Riley has said the team wants Wade to return, but Sports Illustrated's Chris Mannix reported last month that there is mutual interest between Wade and the Los Angeles Lakers. 

Wade just completed his 12th season with the Heat.

Over 62 games in 2014–15 he averaged 21.5 points, 4.8 assists and 3.5 rebounds per game while shooting 47 percent from the field. Wade was hampered by hamstring issues for part of the season. 

In addition to Wade, point guard Goran Dragicdecided to opt out of his contract, while small forward Luol Dengelected to opt in.

NBA free agency begins on July 1.

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