The first major free agency dominoes may be falling soon. According to multiple media reports, Dwyane Wade and Chris Bosh will be signing deals with massive paycuts to allow the Heat to re-tool and strengthen their roster.
According John Canzano of the Oregonian, it looks like Wade will be signing a four-year deal while Bosh will get a five-year contract from the Heat.
Chris Bosh’s 5-year deal with Miami expected to start at $11 million in year 1. Dwyane Wade will sign four years, $12 million in year 1
— John Canzano (@johncanzanobft) July 1, 2014
ESPN is reporting that the Heat are telling teams they will have as much as $12 million in cap space, indicating reports of Wade and Bosh’s new contracts to be true.
As they chase free agents to join with their superstars, the Miami Heat are telling free agents they expect to have as much as $12 million in salary-cap space after getting LeBron James,Dwyane Wade and Chris Bosh to re-sign, sources told ESPN.com.
With James demanding a maximum contract starting around $20.7 million, this indicates that Wade and Bosh have expressed a willingness to take drastic pay cuts to help the Heat add talent to the roster.
If these reports turn out to be true, the Heat could be major players in free agency looking to add a fourth All-Star caliber talent to their starting line-up.