Miami Heat, Dwyane Wade Off By $24M In Contract Dispute

While Dwyane Wade said in recent statements that he’ll talk about his free agency in July, there are reports that he and the NBA's Miami Heat have already exchanged contract proposals. A news report from Miami confirms that the veteran guard and the Heat front office remain millions of dollars apart on a probable long-term extension for Wade.

According to Barry Jackson of the Miami Herald, the Heat are willing to give Wade $36 million over the next three seasons, with $16 million in the first year. However, Wade’s camp is reportedly demanding $60 million over the same three years, although neither side has officially confirmed the numbers.

Both sides are expected to eventually narrow the $24 million gap, but it is understood that Miami wants a cheaper contract for Wade as the team also has to deal with free agents Goran Dragic, who is expected to demand a long-term maximum contract; and Hassan Whiteside, who will be paid just below $1 million for the new season but will get a healthy pay jump afterward.

Chris Bosh owns a big percentage of the Heat’s salary cap after signing a five-year deal worth $118.7 million before the start of last season, or about $23.7 million per year.

Wade has been the face of the franchise since being drafted by the team in 2003. For his 12-year NBA career, he has averaged 24.1 points, 4.9 rebounds and 5.9 assists. Last season, Wade logged in 21.5 points per game, 3.5 rebounds and. 4.5 assists. However, the 33-year-old has also missed a total of 55 games the past three seasons due to various injuries.